Davis R M Inc. Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

Davis R M Inc. reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 2.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 34,632 shares of the financial services provider’s stock after selling 719 shares during the quarter. Davis R M Inc.’s holdings in Equinix were worth $32,654,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its stake in Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after buying an additional 3,212 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after purchasing an additional 2,560 shares during the period. National Pension Service grew its stake in shares of Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after purchasing an additional 3,164 shares during the period. Brookfield Corp ON grew its stake in shares of Equinix by 67.3% during the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after purchasing an additional 404 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the transaction, the chief executive officer now directly owns 4,329 shares in the company, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the transaction, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. 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 three months. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ:EQIX opened at $830.63 on Tuesday. The firm has a market cap of $80.85 billion, a price-to-earnings ratio of 97.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company’s 50-day moving average is $920.94 and its two-hundred day moving average is $908.13. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company lowered 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 note on Thursday, February 13th. Truist Financial lowered their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday. Scotiabank increased their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $989.35.

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.