Bank of America Corp DE Sells 420,504 Shares of Equinix, Inc. (NASDAQ:EQIX)

Bank of America Corp DE reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 36.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 about 0.77% of Equinix worth $697,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bearing Point Capital LLC acquired a new stake in shares of Equinix during the fourth quarter worth $742,000. Benjamin Edwards Inc. grew its holdings in shares of Equinix by 0.7% in the 4th quarter. Benjamin Edwards Inc. now owns 30,602 shares of the financial services provider's stock valued at $28,867,000 after buying an additional 217 shares during the period. Ancora Advisors LLC increased its position in shares of Equinix by 10.7% in the 4th quarter. Ancora Advisors LLC now owns 405 shares of the financial services provider's stock valued at $382,000 after buying an additional 39 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in Equinix by 5.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 891 shares of the financial services provider's stock worth $840,000 after acquiring an additional 49 shares in the last quarter. Finally, Advanced Portfolio Management LLC acquired a new position in Equinix in the fourth quarter valued at about $443,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. BMO Capital Markets dropped 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 report on Thursday, February 13th. Wolfe Research raised 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. Cowen reaffirmed a "buy" rating on shares of Equinix in a research note on Thursday, May 1st. Barclays lifted their price target on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Finally, Truist Financial decreased their price objective on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $1,005.11.

Insider Transactions at Equinix

In other 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 transaction of $199,891.95. Following the completion of the sale, the insider now owns 1,245 shares of the company's stock, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the transaction, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,167 shares of company stock valued at $6,658,536. Corporate insiders own 0.27% of the company's stock.

Equinix Trading Up 0.4 %

NASDAQ EQIX traded up $3.40 on Friday, hitting $864.39. The company's stock had a trading volume of 225,988 shares, compared to its average volume of 528,530. The firm has a market cap of $84.55 billion, a PE ratio of 101.10, a PEG ratio of 1.78 and a beta of 0.97. The company's 50-day moving average is $825.01 and its 200 day moving average is $894.11. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03.

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

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.17%. Equinix's 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.