E Fund Management Co. Ltd. Sells 54 Shares of Equinix, Inc. (NASDAQ:EQIX)

E Fund Management Co. Ltd. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234 shares of the financial services provider’s stock after selling 54 shares during the period. E Fund Management Co. Ltd.’s holdings in Equinix were worth $221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new position in shares of Equinix during the 4th quarter worth approximately $39,000. Sierra Ocean LLC bought a new stake in shares of Equinix during the 4th quarter worth approximately $42,000. Dunhill Financial LLC boosted its holdings in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new position in shares of Equinix in the fourth quarter valued at $47,000. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction dated 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 transaction, the chief financial officer now owns 22,076 shares in the company, 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. In the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $859.52 on Monday. The company’s 50 day moving average price is $923.05 and its two-hundred day moving average price is $908.05. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $83.66 billion, a PE ratio of 100.53, a PEG 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, 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 research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company dropped their price target 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. Stifel Nicolaus upped their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Oppenheimer raised their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Truist Financial boosted their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $995.24.

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.