American Assets Investment Management LLC Sells 442 Shares of Equinix, Inc. (NASDAQ:EQIX)

American Assets Investment Management LLC cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 30.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 997 shares of the financial services provider's stock after selling 442 shares during the period. American Assets Investment Management LLC's holdings in Equinix were worth $940,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Equinix in the fourth quarter valued at approximately $30,290,000. Mattson Financial Services LLC grew its stake in shares of Equinix by 19.9% in the fourth quarter. Mattson Financial Services LLC now owns 1,882 shares of the financial services provider's stock valued at $1,671,000 after buying an additional 312 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of Equinix in the fourth quarter valued at $565,000. Comprehensive Money Management Services LLC acquired a new position in Equinix during the 4th quarter worth $233,000. Finally, Siemens Fonds Invest GmbH grew its stake in Equinix by 3.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 3,318 shares of the financial services provider's stock worth $3,105,000 after purchasing an additional 121 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EQIX. BNP Paribas raised Equinix to a "strong-buy" rating in a report on Thursday, May 1st. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Barclays upped their target price on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and six have issued a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has an average rating of "Buy" and an average price target of $1,004.80.

Equinix Stock Up 0.2%

Shares of Equinix stock traded up $1.65 during trading hours on Friday, hitting $889.08. 973,117 shares of the company's stock traded hands, compared to its average volume of 527,294. 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 twelve month low of $701.41 and a twelve month high of $994.03. The stock has a 50 day simple moving average of $831.05 and a 200-day simple moving average of $890.74. The company has a market cap of $86.97 billion, a PE ratio of 103.99, a PEG ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business posted $8.86 EPS. The company's quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.11%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insider Activity

In related news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.