Equinix, Inc. (NASDAQ:EQIX) Stock Position Raised by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 4.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 452,601 shares of the financial services provider’s stock after acquiring an additional 20,633 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.48% of Equinix worth $364,520,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in EQIX. Valley National Advisers Inc. lifted its position in Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares in the last quarter. Providence Capital Advisors LLC purchased a new stake in Equinix in the 3rd quarter worth approximately $29,000. Operose Advisors LLC purchased a new stake in Equinix in the 3rd quarter worth approximately $36,000. Asset Dedication LLC lifted its position in Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after buying an additional 25 shares in the last quarter. Finally, Quarry LP lifted its position in Equinix by 237.5% in the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 1.3 %

Shares of NASDAQ:EQIX traded down $9.77 during trading on Friday, hitting $764.05. 498,341 shares of the company’s stock were exchanged, compared to its average volume of 811,680. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93. The firm has a 50-day moving average price of $844.04 and a two-hundred day moving average price of $801.29. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a market cap of $72.30 billion, a P/E ratio of 74.11, a PEG ratio of 1.82 and a beta of 0.58.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio is 165.28%.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the sale, the insider now owns 14,002 shares in the company, valued at approximately $11,661,425.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Jonathan Lin sold 624 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $809.66, for a total value of $505,227.84. Following the completion of the transaction, the executive vice president now owns 5,671 shares in the company, valued at $4,591,581.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock worth $14,788,771 in the last quarter. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Oppenheimer raised their price target on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Royal Bank of Canada raised their price target on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $868.72.

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.