Price T Rowe Associates Inc. MD Purchases 14,294 Shares of Equinix, Inc. (NASDAQ:EQIX)

Price T Rowe Associates Inc. MD lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,902,053 shares of the financial services provider’s stock after purchasing an additional 14,294 shares during the period. Price T Rowe Associates Inc. MD owned about 1.97% of Equinix worth $1,793,429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of EQIX. Kestra Investment Management LLC bought a new position in Equinix in the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the 4th quarter worth approximately $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the 4th quarter worth approximately $42,000. Thompson Investment Management Inc. purchased a new position in shares of Equinix in the 4th quarter valued at approximately $47,000. Finally, Key Financial Inc boosted its position in shares of Equinix by 30.4% during the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the transaction, the insider now directly owns 1,245 shares of the company’s stock, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,040 shares of company stock worth $6,547,068. 0.27% of the stock is owned by company insiders.

Equinix Stock Up 2.3 %

Shares of EQIX opened at $791.12 on Wednesday. The company’s 50-day moving average price is $841.89 and its 200 day moving average price is $896.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The firm has a market cap of $77.39 billion, a P/E ratio of 92.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup decreased their target price on shares of Equinix from $1,020.00 to $970.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company cut their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Barclays boosted their price target on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Mizuho dropped their price objective on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday, March 28th. Finally, Cfra Research raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $1,004.94.

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.