Wellington Management Group LLP Increases Position in Equinix, Inc. (NASDAQ:EQIX)

Wellington Management Group LLP raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 28.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,804,227 shares of the financial services provider's stock after acquiring an additional 401,991 shares during the period. Wellington Management Group LLP owned approximately 1.85% of Equinix worth $1,701,188,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Equinix during the fourth quarter valued at $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix during the 4th quarter valued at about $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC boosted its holdings in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in Equinix during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. BMO Capital Markets decreased their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank boosted their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Equinix currently has an average rating of "Buy" and an average target price of $1,007.59.

Equinix Price Performance

Shares of Equinix stock traded down $35.23 during trading on Friday, reaching $766.21. 820,368 shares of the stock traded hands, compared to its average volume of 551,538. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The business has a fifty day simple moving average of $883.46 and a two-hundred day simple moving average of $906.22. The company has a market capitalization of $74.58 billion, a price-to-earnings ratio of 89.62, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.45%. The ex-dividend date was Wednesday, February 26th. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is currently 219.42%.

About Equinix

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.