Mitsubishi UFJ Trust & Banking Corp Sells 4,403 Shares of Equinix, Inc. (NASDAQ:EQIX)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 85,737 shares of the financial services provider’s stock after selling 4,403 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Equinix were worth $80,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC increased its position in shares of Equinix by 14.5% during the fourth quarter. Prestige Wealth Management Group LLC now owns 1,352 shares of the financial services provider’s stock worth $1,275,000 after buying an additional 171 shares during the period. Zions Bancorporation N.A. grew its holdings in Equinix by 17.8% during the 4th quarter. Zions Bancorporation N.A. now owns 6,000 shares of the financial services provider’s stock worth $5,657,000 after acquiring an additional 908 shares during the period. Prudential Financial Inc. grew its holdings in Equinix by 17.5% during the 4th quarter. Prudential Financial Inc. now owns 422,627 shares of the financial services provider’s stock worth $398,491,000 after acquiring an additional 62,955 shares during the period. Vanguard Group Inc. lifted its stake in shares of Equinix by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after purchasing an additional 88,654 shares during the period. Finally, Napatree Capital LLC acquired a new position in shares of Equinix in the 4th quarter valued at about $241,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Wells Fargo & Company dropped their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Finally, Scotiabank raised their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Three investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $990.06.

Equinix Stock Performance

Shares of EQIX stock opened at $841.22 on Wednesday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50-day moving average of $901.48 and a 200-day moving average of $909.76. The company has a market cap of $81.88 billion, a P/E ratio of 98.39, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) 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%. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, February 26th. Equinix’s payout ratio is 219.42%.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by company insiders.

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.