Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Avanza Fonder AB

Avanza Fonder AB reduced its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,323 shares of the financial services provider's stock after selling 844 shares during the period. Avanza Fonder AB's holdings in Equinix were worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Equinix by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after acquiring an additional 88,654 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after acquiring an additional 62,005 shares during the last quarter. FMR LLC increased its position in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after acquiring an additional 81,144 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after acquiring an additional 44,471 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock valued at $1,793,429,000 after acquiring an additional 14,294 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Down 0.4%

Shares of NASDAQ:EQIX traded down $3.78 during trading on Friday, hitting $892.64. 502,420 shares of the company were exchanged, compared to its average volume of 526,252. The stock has a market capitalization of $87.32 billion, a P/E ratio of 104.40, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The firm's 50 day moving average price is $848.81 and its 200-day moving average price is $889.65.

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, beating analysts' consensus estimates of $9.01 by $0.66. The business 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 company's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $8.86 EPS. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.10%. Equinix's payout ratio is 195.01%.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director now directly owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business's 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 now directly owns 9,615 shares in the company, valued at $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. Insiders have sold 3,176 shares of company stock valued at $2,808,008 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EQIX shares. BMO Capital Markets dropped their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a report on Monday, April 28th. Scotiabank dropped their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 22nd. BNP Paribas upgraded shares of Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Cowen restated a "buy" rating on shares of Equinix in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $1,004.80.

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.