Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,391 shares of the financial services provider’s stock after selling 843 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Equinix were worth $13,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares during the period. OneDigital Investment Advisors LLC acquired a new position in Equinix in the 3rd quarter valued at about $224,000. CIBC Asset Management Inc increased its stake in Equinix by 8.1% during the third quarter. CIBC Asset Management Inc now owns 13,987 shares of the financial services provider’s stock worth $12,415,000 after purchasing an additional 1,053 shares during the period. Empowered Funds LLC lifted its position in shares of Equinix by 8.9% during the third quarter. Empowered Funds LLC now owns 2,100 shares of the financial services provider’s stock worth $1,864,000 after purchasing an additional 171 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Equinix by 4.0% in the third quarter. Natixis Advisors LLC now owns 47,968 shares of the financial services provider’s stock valued at $42,578,000 after purchasing an additional 1,839 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $837.68 on Monday. The company has a fifty day moving average of $912.40 and a two-hundred day moving average of $908.72. The company has a market capitalization of $81.53 billion, a PE ratio of 97.97, a P/E/G ratio of 1.78 and a beta of 0.74. 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.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. As a group, analysts expect that Equinix, Inc. will post 33.1 earnings per share 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 given a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.24%. Equinix’s dividend payout ratio is 219.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price objective on 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. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $989.35.

Insider Buying and Selling

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 completion of the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now directly owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 in the last 90 days. Company insiders own 0.27% of the company’s stock.

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.