Equinix, Inc. (NASDAQ:EQIX) Holdings Trimmed by Congress Asset Management Co.

Congress Asset Management Co. cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,230 shares of the financial services provider’s stock after selling 277 shares during the quarter. Congress Asset Management Co.’s holdings in Equinix were worth $3,989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GHP Investment Advisors Inc. lifted its stake in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Equinix during the fourth quarter worth $47,000. Finally, Friedenthal Financial purchased a new stake in Equinix during the fourth quarter valued at about $58,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,701 shares of company stock worth $15,441,464 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on EQIX shares. TD Cowen upped their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets dropped their price target on 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. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $994.82.

Equinix Stock Performance

Shares of EQIX opened at $933.60 on Tuesday. The company has a market capitalization of $90.08 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company’s fifty day moving average price is $934.88 and its 200 day moving average price is $897.69.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. As a group, analysts expect that Equinix, Inc. will post 31.09 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 153.65%.

Equinix Company 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.