Adage Capital Partners GP L.L.C. Has $157.62 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Adage Capital Partners GP L.L.C. grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,168 shares of the financial services provider's stock after buying an additional 8,700 shares during the period. Adage Capital Partners GP L.L.C. owned 0.17% of Equinix worth $157,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Equinix during the fourth quarter valued at approximately $1,067,270,000. Wellington Management Group LLP lifted its holdings in Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after buying an additional 401,991 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Equinix in the 4th quarter valued at $328,899,000. Proficio Capital Partners LLC purchased a new stake in shares of Equinix during the fourth quarter valued at about $246,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $1.51 on Monday, reaching $839.61. 169,106 shares of the company were exchanged, compared to its average volume of 548,262. 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 1-year low of $684.14 and a 1-year high of $994.03. The company has a 50-day moving average of $835.22 and a 200-day moving average of $895.32. The firm has a market cap of $82.13 billion, a price-to-earnings ratio of 98.23, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. Equities analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.23%. This is a positive change from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio is presently 219.42%.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,040 shares of company stock valued at $6,547,068. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EQIX. Citigroup decreased their price objective on Equinix from $1,020.00 to $970.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Scotiabank decreased their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 22nd. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Finally, Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $1,004.94.

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.