Wellington Management Group LLP Buys 401,991 Shares of Equinix, Inc. (NASDAQ:EQIX)

Wellington Management Group LLP lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 28.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,804,227 shares of the financial services provider’s stock after acquiring an additional 401,991 shares during the quarter. Wellington Management Group LLP’s holdings in Equinix were worth $1,701,188,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EQIX. Kestra Investment Management LLC bought a new stake in Equinix in the 4th quarter worth about $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix in the 4th quarter worth approximately $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the fourth quarter valued at approximately $42,000. Dunhill Financial LLC increased its position in shares of Equinix by 108.7% during 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 during the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in Equinix during the fourth quarter worth $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now owns 1,245 shares in the company, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of several research analyst reports. Truist Financial decreased their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada lifted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Scotiabank increased their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Oppenheimer increased their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $1,007.59.

Equinix Stock Performance

NASDAQ EQIX opened at $803.00 on Monday. The company’s 50 day simple moving average is $895.96 and its two-hundred day simple moving average is $909.02. The stock has a market capitalization of $78.16 billion, a PE ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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%. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. 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 2.34%. Equinix’s payout ratio is presently 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.