Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 366,013 shares of the financial services provider’s stock after acquiring an additional 2,561 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.38% of Equinix worth $345,110,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EQIX. Norges Bank purchased a new stake in Equinix during the 4th quarter worth approximately $1,067,270,000. Wellington Management Group LLP grew its holdings in shares of Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after buying an additional 401,991 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Equinix in the 4th quarter valued at $328,899,000. Proficio Capital Partners LLC purchased a new position in Equinix in the 4th quarter worth $246,000. Finally, JPMorgan Chase & Co. lifted its position in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQIX shares. Truist Financial reduced 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. Barclays lifted their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Wells Fargo & Company cut their price objective on shares of 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. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, Mizuho lowered their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $1,007.59.

Equinix Stock Up 1.8 %

Shares of NASDAQ EQIX opened at $831.55 on Thursday. The firm has a market cap of $80.94 billion, a price-to-earnings ratio of 97.26, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company’s 50-day simple moving average is $889.74 and its 200-day simple moving average is $907.72. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal 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 issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.26%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 in the last 90 days. 0.27% of the stock is owned by insiders.

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.