33 Shares in Equinix, Inc. (NASDAQ:EQIX) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 33 shares of the financial services provider’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares during the last quarter. Brookfield Corp ON boosted its position in shares of Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares during the period. Empowered Funds LLC grew its stake in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. Thematics Asset Management raised its holdings in shares of Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after buying an additional 6,000 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of Equinix by 46.1% during the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock worth $278,712,000 after acquiring an additional 92,975 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on EQIX shares. Oppenheimer upped their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets cut their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus lifted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Finally, Royal Bank of Canada raised their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $994.82.

Insider Transactions at Equinix

In other news, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares in the company, valued at $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock valued at $21,988,532 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

Shares of Equinix stock opened at $919.68 on Friday. The company has a market capitalization of $89.51 billion, a PE ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a 50-day simple moving average of $931.27 and a two-hundred day simple moving average of $901.85. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. 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 (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

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.