Envestnet Asset Management Inc. Has $176.56 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Envestnet Asset Management Inc. lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 7.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 187,258 shares of the financial services provider’s stock after selling 14,660 shares during the period. Envestnet Asset Management Inc.’s holdings in Equinix were worth $176,564,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Kestra Investment Management LLC acquired a new stake in Equinix in the 4th quarter valued at $31,000. J.Safra Asset Management Corp bought a new position in shares of Equinix in the fourth quarter valued at $39,000. Sierra Ocean LLC acquired a new position in shares of Equinix during the fourth quarter valued at about $42,000. Dunhill Financial LLC increased its position in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the 4th quarter worth about $47,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EQIX shares. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Truist Financial cut their target price 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. Oppenheimer upped their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Barclays lifted their price objective on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Finally, Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $1,007.59.

Insider Buying and Selling at Equinix

In related news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Down 4.4 %

Shares of NASDAQ EQIX opened at $766.21 on Monday. 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 $74.58 billion, a PE ratio of 89.62, a P/E/G ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The business’s fifty day moving average price is $883.46 and its 200-day moving average price is $906.83.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date 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.