Bank of America Corp DE Has $697.82 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Bank of America Corp DE reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 36.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 740,091 shares of the financial services provider's stock after selling 420,504 shares during the quarter. Bank of America Corp DE owned 0.77% of Equinix worth $697,824,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EQIX. Kestra Investment Management LLC acquired a new position in Equinix in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in shares of Equinix in the fourth quarter worth $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix during the fourth quarter worth $42,000. Thompson Investment Management Inc. acquired a new stake in Equinix during the fourth quarter valued at $47,000. Finally, Key Financial Inc grew its stake in Equinix by 30.4% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Buying and Selling

In other Equinix news, CFO Keith D. Taylor sold 2,454 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was 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 directly owns 24,402 shares of the company's stock, valued at approximately $22,677,754.68. The trade was a 9.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 215 shares of the firm'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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 7,040 shares of company stock worth $6,547,068 in the last quarter. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EQIX. JMP Securities reissued a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, May 1st. Wells Fargo & Company lowered 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. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Scotiabank dropped their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho decreased their target price on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $1,005.11.

Equinix Trading Up 0.8 %

EQIX stock opened at $883.21 on Tuesday. The business has a fifty day moving average price of $828.28 and a 200 day moving average price of $894.61. 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, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market capitalization of $86.39 billion, a price-to-earnings ratio of 103.30, a P/E/G ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the previous year, the business posted $8.86 earnings per share. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared 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. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio is currently 195.01%.

About Equinix

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.

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