Boothbay Fund Management LLC Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

Boothbay Fund Management LLC lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 26,694 shares of the financial services provider's stock after selling 740 shares during the period. Equinix accounts for approximately 0.6% of Boothbay Fund Management LLC's holdings, making the stock its 15th largest position. Boothbay Fund Management LLC's holdings in Equinix were worth $25,170,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EQIX. Vanguard Group Inc. boosted its holdings in shares of Equinix by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after purchasing an additional 88,654 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Equinix by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after purchasing an additional 62,005 shares during the last quarter. FMR LLC lifted its stake in shares of Equinix by 3.7% in the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after purchasing an additional 81,144 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock worth $1,827,847,000 after buying an additional 44,471 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Equinix by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after purchasing an additional 14,294 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 24,402 shares of the company's stock, valued at approximately $22,677,754.68. This represents a 9.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,040 shares of company stock worth $6,547,068. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

Equinix stock traded up $9.10 during mid-day trading on Wednesday, reaching $860.75. 728,550 shares of the stock traded hands, compared to its average volume of 712,376. The business's 50-day moving average is $831.55 and its 200-day moving average is $894.83. 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 stock has a market capitalization of $84.20 billion, a PE ratio of 100.67, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a 12-month low of $808.53 and a 12-month high of $939.93.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.18%. Equinix's dividend payout ratio (DPR) is 219.42%.

Analysts Set New Price Targets

EQIX has been the topic of a number of research reports. New Street Research raised Equinix to a "strong-buy" rating in a research report on Monday. Citigroup dropped their price objective on Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Scotiabank dropped their price target on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $1,004.94.

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.