Farther Finance Advisors LLC Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

Farther Finance Advisors LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 15.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 727 shares of the financial services provider’s stock after selling 135 shares during the quarter. Farther Finance Advisors LLC’s holdings in Equinix were worth $686,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EQIX. Oppenheimer & Co. Inc. grew its position in shares of Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after buying an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after acquiring an additional 2,560 shares in the last quarter. National Pension Service grew its holdings in shares of Equinix by 1.3% during 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 increased 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 worth $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after purchasing an additional 404 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on EQIX shares. Truist Financial cut their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Oppenheimer lifted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Scotiabank increased their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Barclays lifted their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Equinix currently has a consensus rating of “Buy” and an average target price of $989.35.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at approximately $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 19,054 shares of company stock worth $17,466,950 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.4 %

Shares of Equinix stock opened at $837.68 on Friday. The company has a 50-day moving average of $912.40 and a two-hundred day moving average of $908.06. 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. The stock has a market cap of $81.53 billion, a PE ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 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.