Allianz SE Trims Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Allianz SE lowered its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 36.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,622 shares of the financial services provider's stock after selling 939 shares during the quarter. Allianz SE's holdings in Equinix were worth $1,322,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EQIX. Pinney & Scofield Inc. acquired a new position in shares of Equinix in the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC raised its position in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 23 shares during the period. Cornerstone Planning Group LLC raised its position in Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares during the period. Pacific Center for Financial Services lifted its stake in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after purchasing an additional 15 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Equinix during the fourth quarter worth $49,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $771.75 on Monday. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The firm has a market capitalization of $75.52 billion, a P/E ratio of 75.59, a P/E/G ratio of 1.25 and a beta of 0.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. The company's fifty day moving average price is $831.20 and its 200 day moving average price is $852.93.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the firm earned $9.22 earnings per share. The business's revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's dividend payout ratio is presently 183.74%.

Insider Activity

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider owned 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer owned 9,615 shares in the company, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EQIX has been the topic of several research analyst reports. Citigroup boosted their price objective on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Guggenheim started coverage on shares of Equinix in a research note on Thursday, July 10th. They set a "buy" rating and a $933.00 price target on the stock. Cowen reissued a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $935.00 to $940.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Stifel Nicolaus cut their target price on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Five analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, Equinix currently has an average rating of "Buy" and a consensus target price of $957.27.

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.

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