Cresset Asset Management LLC Sells 3,222 Shares of Equinix, Inc. (NASDAQ:EQIX)

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

Several other hedge funds and other institutional investors have also made changes to their positions in EQIX. Oppenheimer & Co. Inc. grew its position in shares of Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after purchasing an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after buying an additional 2,560 shares in the last quarter. National Pension Service increased its position in Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock worth $229,263,000 after buying an additional 3,164 shares during the period. Empowered Funds LLC increased its position in Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock worth $2,361,000 after buying an additional 404 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Equinix by 46.1% in 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 acquiring an additional 92,975 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 0.4 %

Shares of EQIX stock traded up $3.40 during trading hours on Friday, hitting $864.39. 225,988 shares of the company's stock traded hands, compared to its average volume of 530,318. 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 12 month low of $701.41 and a 12 month high of $994.03. The stock has a market cap of $84.55 billion, a PE ratio of 101.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The stock's 50 day simple moving average is $825.01 and its 200 day simple moving average is $894.09.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 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%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business earned $8.86 EPS. The business's quarterly revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company 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 of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.17%. Equinix's payout ratio is 195.01%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EQIX shares. BNP Paribas upgraded shares of Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Mizuho dropped their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research report on Friday, March 28th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Stifel Nicolaus lifted their price objective on Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Citigroup increased their target price on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a report on Monday. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of "Buy" and a consensus target price of $1,005.11.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now owns 1,245 shares in the company, valued at $1,157,513.85. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a legal 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 90 days, insiders have sold 7,167 shares of company stock worth $6,658,536. Company insiders own 0.27% of the company's stock.

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.