IQ EQ FUND MANAGEMENT IRELAND Ltd Cuts Stake in Equinix, Inc. (NASDAQ:EQIX)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 12.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,861 shares of the financial services provider’s stock after selling 255 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Equinix were worth $1,755,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Inspire Trust Co. N.A. boosted its holdings in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 11 shares during the period. Rothschild Investment LLC boosted its stake in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after buying an additional 11 shares during the period. Ritholtz Wealth Management grew its position in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after buying an additional 12 shares in the last quarter. Great Lakes Retirement Inc. grew its position in shares of Equinix by 1.2% during the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock worth $920,000 after buying an additional 12 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its stake in shares of Equinix by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of analyst reports. 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 research report on Thursday, March 20th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Scotiabank upped their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Wolfe Research raised shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective on the stock in a research note on Thursday. Finally, BMO Capital Markets decreased their price target on 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. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has an average rating of “Buy” and a consensus target price of $989.39.

Equinix Stock Down 0.7 %

Shares of NASDAQ:EQIX opened at $825.31 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company’s fifty day moving average is $898.21 and its two-hundred day moving average is $908.63. The stock has a market capitalization of $80.33 billion, a price-to-earnings ratio of 96.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. Equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.27%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now directly owns 4,329 shares in the company, valued at $3,937,268.79. This trade represents a 24.04 % 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 worth $17,466,950 in the last ninety days. 0.27% of the stock is owned by insiders.

Equinix 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.