Alkeon Capital Management LLC Sells 251 Shares of Equinix, Inc. (NASDAQ:EQIX)

Alkeon Capital Management LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 408,975 shares of the financial services provider’s stock after selling 251 shares during the quarter. Equinix comprises approximately 0.6% of Alkeon Capital Management LLC’s holdings, making the stock its 22nd largest holding. Alkeon Capital Management LLC owned 0.42% of Equinix worth $363,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after buying an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after acquiring an additional 398,494 shares in the last quarter. Principal Financial Group Inc. increased its stake in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Equinix by 104.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after purchasing an additional 160,906 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Equinix by 21.5% in the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after purchasing an additional 159,576 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The trade was a 44.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,754 shares of company stock valued at $11,666,756. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $979.10 on Friday. The company has a market cap of $94.47 billion, a PE ratio of 88.29, a P/E/G ratio of 2.52 and a beta of 0.71. The firm’s 50 day moving average price is $900.50 and its 200-day moving average price is $831.45. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.74%. Equinix’s dividend payout ratio is presently 153.65%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQIX. Barclays increased their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. BMO Capital Markets raised their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Mizuho raised their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, TD Cowen upped their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $952.88.

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.