Baird Financial Group Inc. Cuts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Baird Financial Group Inc. decreased its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,818 shares of the financial services provider's stock after selling 304 shares during the period. Baird Financial Group Inc.'s holdings in Equinix were worth $11,143,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In related 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 215 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock valued at $6,547,068 over the last 90 days. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on EQIX. TD Securities boosted their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. 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. Citigroup boosted their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research report on Monday. Truist Financial reduced their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Finally, Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $1,005.11.

Equinix Trading Down 0.3 %

Shares of EQIX stock opened at $872.35 on Thursday. The company has a market cap of $85.33 billion, a PE ratio of 102.03, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock's 50 day simple moving average is $826.93 and its two-hundred day simple moving average is $894.32. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the company earned $8.86 earnings per share. Equinix's revenue was up 4.1% on a year-over-year basis. Research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is currently 195.01%.

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.

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.