Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 43.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,942 shares of the financial services provider’s stock after selling 2,270 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Equinix were worth $2,774,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix in the fourth quarter valued at approximately $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix in the fourth quarter valued at approximately $42,000. Dunhill Financial LLC raised 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 buying an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new position in shares of Equinix during the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 over the last three months. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Scotiabank upped their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and a consensus price target of $990.06.

Equinix Stock Performance

NASDAQ:EQIX opened at $852.44 on Tuesday. The company’s 50-day moving average is $902.62 and its two-hundred day moving average is $909.60. Equinix, Inc. has a 1-year low of $684.14 and a 1-year 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 $82.97 billion, a price-to-earnings ratio of 99.70, a PEG ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 219.42%.

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.