IQ EQ FUND MANAGEMENT IRELAND Ltd Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,861 shares of the financial services provider’s stock after selling 255 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Equinix were worth $1,755,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its position in shares of Equinix by 17.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 228 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 34 shares during the period. NEOS Investment Management LLC grew its stake in shares of Equinix by 30.7% in the fourth quarter. NEOS Investment Management LLC now owns 5,292 shares of the financial services provider’s stock worth $4,990,000 after purchasing an additional 1,244 shares during the last quarter. UniSuper Management Pty Ltd increased its holdings in Equinix by 53.0% during the 4th quarter. UniSuper Management Pty Ltd now owns 48,631 shares of the financial services provider’s stock valued at $45,854,000 after purchasing an additional 16,852 shares during the period. Sava Infond d.o.o. bought a new position in Equinix during the 4th quarter valued at approximately $627,000. Finally, Artisan Partners Limited Partnership lifted its holdings in Equinix by 17.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 127,536 shares of the financial services provider’s stock worth $120,252,000 after buying an additional 19,192 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

NASDAQ:EQIX opened at $825.31 on Friday. The firm’s fifty day moving average is $898.21 and its two-hundred day moving average is $908.63. The firm has a market cap of $80.33 billion, a price-to-earnings ratio of 96.53, a PEG ratio of 1.78 and a beta of 0.74. 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 one year low of $684.14 and a one year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results 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 year.

Equinix Increases Dividend

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

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Truist Financial lowered their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, 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. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $989.39.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, 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. Insiders sold 19,054 shares of company stock valued at $17,466,950 over the last quarter. 0.27% of the stock is currently owned by insiders.

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.