Ninepoint Partners LP Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Ninepoint Partners LP lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,018 shares of the financial services provider’s stock after buying an additional 154 shares during the period. Equinix makes up about 0.2% of Ninepoint Partners LP’s portfolio, making the stock its 18th largest position. Ninepoint Partners LP’s holdings in Equinix were worth $1,625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. Norges Bank purchased a new position in shares of Equinix in the 4th quarter worth approximately $725,557,000. Principal Financial Group Inc. grew its position in Equinix by 44.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock worth $1,015,610,000 after purchasing an additional 431,435 shares during the last quarter. Morgan Stanley grew its position in Equinix by 26.5% during the 4th quarter. Morgan Stanley now owns 854,549 shares of the financial services provider’s stock worth $559,756,000 after purchasing an additional 179,023 shares during the last quarter. Wellington Management Group LLP grew its position in Equinix by 28.3% during the 1st quarter. Wellington Management Group LLP now owns 604,277 shares of the financial services provider’s stock worth $448,144,000 after purchasing an additional 133,132 shares during the last quarter. Finally, Barclays PLC grew its position in Equinix by 157.5% during the 2nd quarter. Barclays PLC now owns 214,988 shares of the financial services provider’s stock worth $168,540,000 after purchasing an additional 131,503 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the sale, the executive vice president now owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 729 shares of the company’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 sale, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EQIX. Morgan Stanley dropped their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Oppenheimer lifted their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Royal Bank of Canada lifted their price objective on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $862.50.

Equinix Stock Performance

Shares of EQIX traded up $0.63 during trading hours on Friday, hitting $740.48. The stock had a trading volume of 185,605 shares, compared to its average volume of 554,196. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average price of $835.72 and a 200 day moving average price of $801.33. The firm has a market capitalization of $70.06 billion, a price-to-earnings ratio of 72.12, a PEG ratio of 1.90 and a beta of 0.58. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio is presently 165.28%.

Equinix Profile

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.