Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.9% during the 4th quarter, HoldingsChannel reports. The fund owned 969,881 shares of the financial services provider’s stock after selling 82,999 shares during the period. Invesco Ltd.’s holdings in Equinix were worth $914,491,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EQIX. Employees Retirement System of Texas grew its stake in Equinix by 55.4% in the 4th quarter. Employees Retirement System of Texas now owns 77,370 shares of the financial services provider’s stock valued at $72,951,000 after acquiring an additional 27,570 shares during the period. Bank of Montreal Can raised its holdings in Equinix by 12.5% in the 4th quarter. Bank of Montreal Can now owns 132,228 shares of the financial services provider’s stock valued at $124,677,000 after acquiring an additional 14,654 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Equinix by 21.3% during the 4th quarter. Cerity Partners LLC now owns 11,800 shares of the financial services provider’s stock worth $10,861,000 after purchasing an additional 2,072 shares during the last quarter. FMR LLC grew its position in shares of Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock valued at $2,135,606,000 after purchasing an additional 81,144 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in Equinix by 13.7% during the fourth quarter. Federated Hermes Inc. now owns 13,268 shares of the financial services provider’s stock worth $12,510,000 after buying an additional 1,599 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 4.4 %

Shares of EQIX stock opened at $766.21 on Monday. The business’s fifty day moving average price is $883.46 and its 200 day moving average price is $906.83. The firm 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. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly 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 net margin of 9.32% and a return on equity of 6.31%. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.45%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is 219.42%.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 1,331 shares of the firm’s 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 sale, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was 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 $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,054 shares of company stock worth $17,466,950. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EQIX. BMO Capital Markets reduced their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Wolfe Research upgraded Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price on the stock in a research report on Thursday, March 27th. Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $1,007.59.

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.