Metis Global Partners LLC Purchases 6,866 Shares of Equinix, Inc. (NASDAQ:EQIX)

Metis Global Partners LLC grew its position in Equinix, Inc. (NASDAQ:EQIX) by 38.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,838 shares of the financial services provider’s stock after purchasing an additional 6,866 shares during the period. Equinix makes up approximately 0.7% of Metis Global Partners LLC’s investment portfolio, making the stock its 19th largest holding. Metis Global Partners LLC’s holdings in Equinix were worth $23,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its position in Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after purchasing an additional 53,729 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on EQIX shares. Barclays boosted their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets decreased their price target on 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. Truist Financial boosted their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Wells Fargo & Company cut their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Buy” and an average target price of $994.82.

Equinix Stock Down 0.6 %

NASDAQ EQIX opened at $904.62 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market cap of $88.05 billion, a price-to-earnings ratio of 105.80, a PEG ratio of 1.78 and a beta of 0.72. The company has a 50 day moving average of $928.20 and a 200-day moving average of $904.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.07%. Equinix’s dividend payout ratio is currently 219.42%.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,741 shares of company stock worth $21,988,532 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.