Capital International Investors Sells 277,235 Shares of Equinix, Inc. (NASDAQ:EQIX)

Capital International Investors reduced its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,184,412 shares of the financial services provider's stock after selling 277,235 shares during the quarter. Capital International Investors owned about 1.23% of Equinix worth $1,116,763,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Capital International Sarl raised its holdings in shares of Equinix by 7.6% during the 4th quarter. Capital International Sarl now owns 11,761 shares of the financial services provider's stock worth $11,089,000 after buying an additional 831 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Equinix by 10.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 221,600 shares of the financial services provider's stock worth $208,799,000 after acquiring an additional 20,293 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Equinix by 1.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 902,634 shares of the financial services provider's stock valued at $851,085,000 after purchasing an additional 11,557 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Equinix during the 4th quarter valued at approximately $262,000. Finally, NewEdge Advisors LLC increased its position in Equinix by 42.3% during the 4th quarter. NewEdge Advisors LLC now owns 1,975 shares of the financial services provider's stock worth $1,862,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Up 1.9 %

EQIX traded up $15.14 during trading on Wednesday, hitting $806.26. 208,351 shares of the company's stock were exchanged, compared to its average volume of 551,398. 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 cap of $78.87 billion, a P/E ratio of 94.30, a PEG ratio of 1.78 and a beta of 0.95. The business's 50 day moving average is $841.89 and its two-hundred day moving average is $896.22. 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 (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.33%. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's payout ratio is currently 219.42%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction 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 sale, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 3,562 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total value of $3,309,240.48. Following the sale, the chairman now directly owns 15,513 shares of the company's stock, valued at approximately $14,412,197.52. This represents a 18.67 % 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 worth $6,547,068 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Barclays lifted their price target on Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Truist Financial lowered their price objective on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a report on Thursday, March 27th. Finally, Citigroup cut their price target on shares of Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Equinix presently has a consensus rating of "Buy" and an average target price of $1,004.94.

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.