Cresset Asset Management LLC Has $56.11 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Cresset Asset Management LLC lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,505 shares of the financial services provider's stock after selling 3,222 shares during the period. Cresset Asset Management LLC owned approximately 0.06% of Equinix worth $56,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Nordea Investment Management AB grew its position in Equinix by 46.1% during the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider's stock valued at $278,712,000 after buying an additional 92,975 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Equinix in the fourth quarter worth about $219,000. Finally, Diversified Trust Co raised its position in shares of Equinix by 3.3% in the fourth quarter. Diversified Trust Co now owns 667 shares of the financial services provider's stock worth $629,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of Equinix stock traded up $3.40 on Friday, hitting $864.39. The company had a trading volume of 225,988 shares, compared to its average volume of 528,530. 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 business has a 50-day simple moving average of $825.01 and a 200-day simple moving average of $894.11. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company 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.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.86 EPS. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio is 195.01%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EQIX shares. Truist Financial cut their price objective on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research report on Monday, March 10th. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, May 1st. Finally, Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $1,005.11.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 24,402 shares of the company's stock, valued at $22,677,754.68. This represents a 9.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the sale, the insider now directly owns 1,245 shares in the company, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,167 shares of company stock worth $6,658,536. Corporate insiders own 0.27% of the company's stock.

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.