Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 228,856 shares of the financial services provider’s stock after selling 25,207 shares during the quarter. Alliancebernstein L.P.’s holdings in Equinix were worth $215,786,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Equinix in the 4th quarter valued at $1,067,270,000. Wellington Management Group LLP lifted its position in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Equinix in the fourth quarter valued at $328,899,000. Proficio Capital Partners LLC purchased a new position in shares of Equinix during the fourth quarter worth about $246,000. Finally, JPMorgan Chase & Co. increased its position in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the business’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 sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 in the last quarter. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EQIX. Royal Bank of Canada raised their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Barclays upped their price target on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. BMO Capital Markets lowered their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Two 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. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $1,007.59.

Equinix Trading Up 1.5 %

NASDAQ:EQIX opened at $815.35 on Tuesday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a fifty day moving average price of $893.95 and a two-hundred day moving average price of $908.64. The stock has a market capitalization of $79.36 billion, a price-to-earnings ratio of 95.36, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.30%. Equinix’s payout ratio is 219.42%.

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.