Guggenheim Capital LLC Sells 26,322 Shares of Equinix, Inc. (NASDAQ:EQIX)

Guggenheim Capital LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 46.2% during the 4th quarter, Holdings Channel reports. The firm owned 30,646 shares of the financial services provider’s stock after selling 26,322 shares during the quarter. Guggenheim Capital LLC’s holdings in Equinix were worth $28,896,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EQIX. Principal Financial Group Inc. increased its stake in shares of Equinix by 0.3% during the third 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 during the period. Pine Valley Investments Ltd Liability Co grew its holdings in Equinix by 49.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider’s stock worth $1,414,000 after acquiring an additional 524 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Equinix during the 3rd quarter valued at about $582,000. Cim Investment Management Inc. raised its holdings in shares of Equinix by 31.4% in the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock valued at $3,261,000 after purchasing an additional 879 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Equinix by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after purchasing an additional 2,940 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of EQIX opened at $783.87 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 company’s fifty day moving average price is $860.01 and its 200-day moving average price is $900.38. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a market capitalization of $76.30 billion, a PE ratio of 91.68, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.39%. The ex-dividend date was Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is 219.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Oppenheimer lifted 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. Wells Fargo & Company decreased their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. 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 note on Monday, March 10th. Finally, Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price for the company in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $1,007.59.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the sale, the chief financial officer now directly owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. This trade represents a 9.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the business’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 completion of the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. 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. 0.27% of the stock is owned by insiders.

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.