Bridgewater Associates LP Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Bridgewater Associates LP boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 115.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,307 shares of the financial services provider's stock after acquiring an additional 701 shares during the quarter. Bridgewater Associates LP's holdings in Equinix were worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after buying an additional 5,910 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Equinix by 49.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider's stock worth $1,414,000 after buying an additional 524 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Equinix during the 3rd quarter worth about $582,000. Cim Investment Management Inc. increased its stake in Equinix by 31.4% during the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider's stock worth $3,261,000 after acquiring an additional 879 shares during the period. Finally, Tidal Investments LLC increased its stake in Equinix by 12.9% during the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock worth $22,880,000 after acquiring an additional 2,940 shares during the period. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $8.16 during trading on Thursday, reaching $817.62. The stock had a trading volume of 91,717 shares, compared to its average volume of 550,820. The business has a fifty day moving average price of $839.40 and a 200-day moving average price of $895.62. The stock has a market cap of $79.98 billion, a PE ratio of 95.80, a PEG ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.29%. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 2,454 shares of Equinix stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the transaction, the chief financial officer now owns 24,402 shares in the company, valued at approximately $22,677,754.68. The trade was a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 3,562 shares of Equinix stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the completion of the transaction, the chairman now owns 15,513 shares of the company's stock, valued at $14,412,197.52. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,040 shares of company stock worth $6,547,068. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Scotiabank dropped their price objective on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research note on Tuesday. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Wells Fargo & Company dropped 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. Barclays boosted their target price 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 target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.