Invesco Ltd. Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Invesco Ltd. lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 969,881 shares of the financial services provider’s stock after selling 82,999 shares during the period. Invesco Ltd. owned approximately 1.01% of Equinix worth $914,491,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EQIX. Kestra Investment Management LLC purchased a new stake in Equinix during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix in the 4th quarter valued at $39,000. Sierra Ocean LLC bought a new position in shares of Equinix during the 4th quarter valued at $42,000. Dunhill Financial LLC raised its position in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix during the fourth quarter valued at about $47,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Down 4.4 %

Shares of EQIX stock opened at $766.21 on Monday. The stock 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 12-month low of $684.14 and a 12-month high of $994.03. The stock’s 50-day moving average price is $883.46 and its 200-day moving average price is $906.83. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced 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 net margin of 9.32% and a return on equity of 6.31%. Equities research analysts predict 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 was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.45%. Equinix’s payout ratio is presently 219.42%.

Insider Buying and Selling at Equinix

In other news, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now directly owns 1,430 shares in the company, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction 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 sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently 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 research note on Monday, March 10th. Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target for the company in a report on Thursday, March 27th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Barclays raised their target price on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, Scotiabank lifted their price objective on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Equinix currently has an average rating of “Buy” and an average target price of $1,007.59.

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.