Baird Financial Group Inc. Sells 304 Shares of Equinix, Inc. (NASDAQ:EQIX)

Baird Financial Group Inc. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,818 shares of the financial services provider's stock after selling 304 shares during the quarter. Baird Financial Group Inc.'s holdings in Equinix were worth $11,143,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EQIX. Kestra Investment Management LLC purchased a new stake in Equinix during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new position in Equinix during the fourth quarter worth about $42,000. Thompson Investment Management Inc. acquired a new position in Equinix during the fourth quarter worth about $47,000. Finally, Key Financial Inc boosted its position in Equinix by 30.4% during the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after acquiring an additional 14 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Down 0.4%

Shares of EQIX traded down $3.65 during midday trading on Tuesday, hitting $866.82. The stock had a trading volume of 397,313 shares, compared to its average volume of 527,972. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The business has a 50-day simple moving average of $824.00 and a two-hundred day simple moving average of $893.79. The firm has a market cap of $84.79 billion, a P/E ratio of 101.38, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. 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 (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, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter last year, the firm earned $8.86 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.16%. Equinix's dividend payout ratio is currently 195.01%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Oppenheimer upped their target price 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. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Finally, New Street Research raised shares of Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $1,004.89.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 3,562 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the transaction, the chairman now owns 15,513 shares of the company's stock, valued at approximately $14,412,197.52. The trade was a 18.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,167 shares of company stock worth $6,658,536 in the last quarter. Corporate 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.