Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 17.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,125,959 shares of the financial services provider’s stock after selling 238,856 shares during the period. Legal & General Group Plc’s holdings in Equinix were worth $1,061,655,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares in the last quarter. IHT Wealth Management LLC increased its position in Equinix by 18.2% during the third quarter. IHT Wealth Management LLC now owns 714 shares of the financial services provider’s stock worth $633,000 after buying an additional 110 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Equinix by 2.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,600 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 53 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Equinix in the third quarter valued at $276,000. Finally, Dunhill Financial LLC boosted its stake 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 valued at $43,000 after acquiring an additional 25 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Truist Financial decreased their target price on shares of 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 boosted their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Cfra Research upgraded 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $1,007.59.

Equinix Stock Down 4.4 %

Shares of NASDAQ:EQIX opened at $766.21 on Monday. The company has a 50 day moving average of $883.46 and a two-hundred day moving average of $906.83. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $74.58 billion, a price-to-earnings ratio of 89.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

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

Equinix Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, February 26th. 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%. Equinix’s payout ratio is currently 219.42%.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value 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 represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value 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 trade represents a 19.25 % 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 valued at $17,466,950 in the last three months. Corporate insiders own 0.27% of the company’s stock.

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.