Alerus Financial NA Sells 171 Shares of Equinix, Inc. (NASDAQ:EQIX)

Alerus Financial NA cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 884 shares of the financial services provider’s stock after selling 171 shares during the quarter. Alerus Financial NA’s holdings in Equinix were worth $834,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its position in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after acquiring an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp raised its position in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after purchasing an additional 2,560 shares during the period. National Pension Service lifted its stake in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after purchasing an additional 3,164 shares during the last quarter. Brookfield Corp ON boosted its position in 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. Finally, 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. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Down 0.7 %

Shares of EQIX stock opened at $825.31 on Friday. The firm’s 50 day moving average is $898.21 and its 200 day moving average is $908.63. The stock has a market capitalization of $80.33 billion, a P/E ratio of 96.53, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. 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 (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate 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 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.27%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is currently 219.42%.

Insider Activity

In related news, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the sale, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price 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 dropped their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, BMO Capital Markets decreased their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Equinix has an average rating of “Buy” and a consensus target price of $989.39.

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.