Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 99.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,417 shares of the financial services provider's stock after selling 149,785 shares during the period. Balyasny Asset Management L.P.'s holdings in Equinix were worth $1,336,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after buying an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after buying an additional 2,560 shares during the last quarter. National Pension Service raised its stake in Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after buying an additional 3,164 shares during the last quarter. Empowered Funds LLC raised its stake in Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Equinix by 20.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock valued at $93,807,000 after buying an additional 17,084 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent research reports. Oppenheimer boosted 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. Barclays boosted their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Truist Financial cut their price objective on shares of Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research report on Monday, May 12th. New Street Research raised shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Finally, Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $1,004.89.

Insider Activity

In other Equinix news, insider Kurt Pletcher sold 215 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares in the company, valued at $1,157,513.85. This trade represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith D. Taylor sold 2,454 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now owns 24,402 shares of the company's stock, valued at approximately $22,677,754.68. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,167 shares of company stock worth $6,658,536. Corporate insiders own 0.27% of the company's stock.

Equinix Trading Up 1.0%

EQIX stock traded up $8.68 during mid-day trading on Friday, reaching $875.92. The company had a trading volume of 589,430 shares, compared to its average volume of 525,366. 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 company has a market capitalization of $85.68 billion, a PE ratio of 102.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The firm has a 50 day moving average of $825.46 and a 200 day moving average of $892.86. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03.

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

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.14%. Equinix's dividend payout ratio is presently 195.01%.

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.