Kovitz Investment Group Partners LLC Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Kovitz Investment Group Partners LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 40.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,538 shares of the financial services provider's stock after selling 1,062 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Equinix were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in EQIX. Voya Investment Management LLC boosted its stake in Equinix by 26.3% in the 4th quarter. Voya Investment Management LLC now owns 175,180 shares of the financial services provider's stock worth $165,175,000 after purchasing an additional 36,491 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Equinix by 8.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 468 shares of the financial services provider's stock worth $441,000 after buying an additional 35 shares during the period. Burling Wealth Partners LLC purchased a new stake in shares of Equinix during the fourth quarter valued at $1,725,000. Adage Capital Partners GP L.L.C. increased its position in shares of Equinix by 5.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 167,168 shares of the financial services provider's stock valued at $157,621,000 after acquiring an additional 8,700 shares during the period. Finally, Tenere Capital LLC purchased a new position in Equinix in the 4th quarter worth $16,878,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of Equinix stock traded up $13.88 on Friday, hitting $875.85. 443,317 shares of the company were exchanged, compared to its average volume of 542,658. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $85.67 billion, a price-to-earnings ratio of 102.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a 50-day moving average price of $828.81 and a 200 day moving average price of $894.65.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the prior year, the business earned $8.86 EPS. The firm's quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.14%. Equinix's payout ratio is 195.01%.

Insider Activity

In related news, insider Kurt Pletcher sold 215 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares in the company, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock valued at $6,547,068 in the last 90 days. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQIX. New Street Research raised Equinix to a "strong-buy" rating in a report on Monday, April 28th. Barclays raised their price target on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. TD Securities upped their target price on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday. Truist Financial reduced their price target 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. Finally, Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and an average target price of $1,004.05.

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.