Geode Capital Management LLC Has $2.27 Billion Holdings in Equinix, Inc. (NASDAQ:EQIX)

Geode Capital Management LLC lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,412,513 shares of the financial services provider’s stock after acquiring an additional 62,005 shares during the quarter. Geode Capital Management LLC owned approximately 2.50% of Equinix worth $2,269,037,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nemes Rush Group LLC boosted its position in shares of Equinix by 18.3% in the fourth quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock worth $79,000 after buying an additional 13 shares during the period. HighPoint Advisor Group LLC boosted its position in Equinix by 10.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 606 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 55 shares during the period. Franklin Resources Inc. grew its stake in Equinix by 3.7% during the 4th quarter. Franklin Resources Inc. now owns 58,486 shares of the financial services provider’s stock valued at $55,146,000 after acquiring an additional 2,099 shares in the last quarter. Seven Mile Advisory acquired a new position in shares of Equinix in the 4th quarter valued at about $225,000. Finally, Summit Financial LLC lifted its position in shares of Equinix by 164.8% in the fourth quarter. Summit Financial LLC now owns 887 shares of the financial services provider’s stock worth $836,000 after purchasing an additional 552 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Scotiabank boosted their price target on 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. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Wells Fargo & Company lowered their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, BMO Capital Markets reduced their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $1,007.59.

Equinix Stock Performance

NASDAQ EQIX opened at $815.35 on Tuesday. The company’s fifty day moving average is $893.95 and its two-hundred day moving average is $908.64. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $79.36 billion, a price-to-earnings ratio of 95.36, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results 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%. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is 219.42%.

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 341 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now owns 1,430 shares of the company’s stock, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following 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 disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.