Davis R M Inc. Cuts Position in Equinix, Inc. (NASDAQ:EQIX)

Davis R M Inc. decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,632 shares of the financial services provider’s stock after selling 719 shares during the period. Davis R M Inc.’s holdings in Equinix were worth $32,654,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Equinix in the fourth quarter valued at approximately $328,899,000. Adelante Capital Management LLC grew its position in Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $246,000. Finally, JPMorgan Chase & Co. grew its position in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on EQIX shares. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Truist Financial lowered their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Oppenheimer raised their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and a consensus target price of $989.35.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. This represents a 27.53 % 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 worth $17,466,950 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

Shares of EQIX opened at $830.63 on Tuesday. 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 stock has a market capitalization of $80.85 billion, a PE ratio of 97.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The business’s fifty day moving average price is $920.94 and its 200 day moving average price is $908.13.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.26%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Equinix Company 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.