Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,125,959 shares of the financial services provider’s stock after selling 238,856 shares during the period. Legal & General Group Plc owned about 1.17% of Equinix worth $1,061,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EQIX. Principal Financial Group Inc. boosted its stake in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares during the period. IHT Wealth Management LLC boosted its position in Equinix by 18.2% in the 3rd quarter. IHT Wealth Management LLC now owns 714 shares of the financial services provider’s stock valued at $633,000 after buying an additional 110 shares during the period. Kovitz Investment Group Partners LLC grew its stake in shares of Equinix by 2.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,600 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 53 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Equinix during the third quarter worth $276,000. Finally, Dunhill Financial LLC raised its stake in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of EQIX opened at $766.21 on Monday. The company has a market capitalization of $74.58 billion, a price-to-earnings ratio of 89.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a 50-day simple moving average of $883.46 and a 200-day simple moving average of $906.83. 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 announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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, equities research analysts anticipate 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. Shareholders of record on Wednesday, February 26th were paid a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now directly owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their position. 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 owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EQIX shares. 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 cut their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $1,007.59.

Equinix 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.