Amundi Sells 62,239 Shares of Equinix, Inc. (NASDAQ:EQIX)

Amundi cut its position in Equinix, Inc. (NASDAQ:EQIX) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 878,620 shares of the financial services provider’s stock after selling 62,239 shares during the quarter. Amundi owned about 0.91% of Equinix worth $835,044,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Equinix by 302.7% during 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 valued at $960,820,000 after acquiring an additional 813,666 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Equinix during the 4th quarter valued at about $328,899,000. Adelante Capital Management LLC grew its position in Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after acquiring an additional 344,114 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Equinix during the fourth quarter worth approximately $246,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQIX. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Barclays upped their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Scotiabank lifted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Oppenheimer raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Three research 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. According to data from MarketBeat, Equinix presently has an average rating of “Buy” and an average price target of $995.24.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 341 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the transaction, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. This trade represents a 19.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Down 1.4 %

Shares of EQIX stock opened at $859.52 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The stock has a 50 day moving average of $923.05 and a 200 day moving average of $906.88. The stock has a market cap of $83.66 billion, a P/E ratio of 100.53, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last posted 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 net margin of 9.32% and a return on equity of 6.31%. As a group, sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.18%. Equinix’s dividend payout ratio is presently 219.42%.

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.