Border to Coast Pensions Partnership Ltd Sells 2,500 Shares of Equinix, Inc. $EQIX

Key Points

• Border to Coast Pensions Partnership Ltd trimmed its Equinix stake by 7.1% in Q4, selling 2,500 shares and now holds 32,500 shares worth about $24.95 million.
• Insiders have been selling: Jonathan Lin and CEO Adaire Fox‑Martin sold shares on March 12, and insiders disposed of 17,266 shares totaling roughly $14.93 million over the past 90 days, leaving insiders with 0.27% ownership.
• Equinix recently missed quarterly EPS and revenue estimates, trades with a market cap of $103.85B and a P/E of ~76.6, raised its quarterly dividend to $5.16 ($20.64 annualized, ~2.0% yield), and holds a MarketBeat consensus rating of "Moderate Buy" with a ~$1,033.57 price target.

Border to Coast Pensions Partnership Ltd decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,500 shares of the financial services provider's stock after selling 2,500 shares during the quarter. Border to Coast Pensions Partnership Ltd's holdings in Equinix were worth $24,946,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its position in Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider's stock valued at $426,444,000 after purchasing an additional 7,409 shares in the last quarter. Douglas Lane & Associates LLC grew its position in Equinix by 3.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock valued at $85,833,000 after purchasing an additional 4,241 shares in the last quarter. JPMorgan Chase & Co. grew its position in Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock valued at $2,252,094,000 after purchasing an additional 588,967 shares in the last quarter. Chilton Capital Management LLC grew its position in Equinix by 5.1% in the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider's stock valued at $28,908,000 after purchasing an additional 1,805 shares in the last quarter. Finally, Foresight Group Ltd Liability Partnership grew its position in Equinix by 10.0% in the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider's stock valued at $20,425,000 after purchasing an additional 2,378 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In related news, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.71, for a total transaction of $613,225.85. Following the completion of the sale, the insider owned 10,788 shares of the company's stock, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 1,086 shares of Equinix stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the sale, the chief executive officer directly owned 19,574 shares of the company's stock, valued at $18,912,398.80. The trade was a 5.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,266 shares of company stock worth $14,927,320 in the last ninety days. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of EQIX stock opened at $1,052.98 on Thursday. The company has a market capitalization of $103.85 billion, a price-to-earnings ratio of 76.58, a PEG ratio of 2.70 and a beta of 1.01. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50-day simple moving average of $962.55 and a 200 day simple moving average of $847.98. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,060.07.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $7.92 EPS. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Equinix's previous quarterly dividend of $4.69. Equinix's payout ratio is presently 150.11%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EQIX. HSBC set a $1,050.00 target price on shares of Equinix and gave the company a "buy" rating in a research report on Thursday, January 15th. Barclays raised their target price on shares of Equinix from $870.00 to $1,020.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 18th. Wall Street Zen downgraded shares of Equinix from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Equinix in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Equinix from $785.00 to $894.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Five investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,033.57.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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