Adelante Capital Management LLC Has $142.46 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Adelante Capital Management LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 70.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,087 shares of the financial services provider's stock after selling 363,137 shares during the period. Equinix comprises about 9.1% of Adelante Capital Management LLC's portfolio, making the stock its 3rd largest position. Adelante Capital Management LLC owned approximately 0.16% of Equinix worth $142,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Equinix by 0.3% during 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 purchasing an additional 5,910 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its holdings in shares of Equinix by 49.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider's stock valued at $1,414,000 after acquiring an additional 524 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equinix during the third quarter worth $582,000. Cim Investment Management Inc. lifted its stake in Equinix by 31.4% in the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider's stock worth $3,261,000 after purchasing an additional 879 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Equinix by 12.9% during the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock valued at $22,880,000 after buying an additional 2,940 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now owns 17,669 shares of the company's stock, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 215 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares of the company's stock, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,040 shares of company stock valued at $6,547,068 in the last three months. Corporate insiders own 0.27% of the company's stock.

Equinix Trading Up 0.9 %

NASDAQ:EQIX traded up $8.12 during trading hours on Monday, reaching $883.97. 98,601 shares of the company were exchanged, compared to its average volume of 540,903. The stock has a 50 day simple moving average of $828.81 and a 200 day simple moving average of $894.69. 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 cap of $86.47 billion, a price-to-earnings ratio of 103.39, a PEG ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the business earned $8.86 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.12%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is 195.01%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EQIX. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Barclays increased their price objective on Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Oppenheimer lifted 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. Finally, Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $1,004.05.

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.