Geode Capital Management LLC Has $2.27 Billion Stake in Equinix, Inc. (NASDAQ:EQIX)

Geode Capital Management LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,412,513 shares of the financial services provider’s stock after purchasing an additional 62,005 shares during the quarter. Geode Capital Management LLC’s holdings in Equinix were worth $2,269,037,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in EQIX. Nemes Rush Group LLC raised its holdings in shares of Equinix by 18.3% in the fourth quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock valued at $79,000 after buying an additional 13 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in shares of Equinix by 10.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 606 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 55 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Equinix by 3.7% during the fourth quarter. Franklin Resources Inc. now owns 58,486 shares of the financial services provider’s stock worth $55,146,000 after purchasing an additional 2,099 shares in the last quarter. Seven Mile Advisory bought a new stake in shares of Equinix during the fourth quarter valued at approximately $225,000. Finally, Summit Financial LLC increased its holdings in shares of Equinix by 164.8% in the fourth quarter. Summit Financial LLC now owns 887 shares of the financial services provider’s stock valued at $836,000 after purchasing an additional 552 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of recent research reports. Truist Financial decreased their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Scotiabank raised their price target on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. BMO Capital Markets reduced their target price on shares of 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, Wolfe Research raised shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target for the company in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $1,007.59.

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the transaction, the insider now owns 1,430 shares of the company’s stock, valued at $1,292,319.60. This represents a 19.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company’s stock.

Equinix Stock Up 1.5 %

NASDAQ:EQIX opened at $815.35 on Tuesday. The stock has a market cap of $79.36 billion, a price-to-earnings ratio of 95.36, a PEG ratio of 1.78 and a beta of 0.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average price of $893.95 and a two-hundred day moving average price of $908.64. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

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, topping 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%. As a group, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is currently 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.