Jennison Associates LLC Sells 797 Shares of Equinix, Inc. (NASDAQ:EQIX)

Jennison Associates LLC lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 44.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,011 shares of the financial services provider's stock after selling 797 shares during the period. Jennison Associates LLC's holdings in Equinix were worth $824,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EQIX. Legacy Financial Advisors Inc. lifted its stake in Equinix by 3.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock valued at $340,000 after acquiring an additional 11 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 12 shares in the last quarter. Signaturefd LLC lifted its stake in Equinix by 0.8% in the 1st quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock valued at $1,182,000 after acquiring an additional 12 shares in the last quarter. Nemes Rush Group LLC lifted its stake in Equinix by 18.3% in the 4th quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider's stock valued at $79,000 after acquiring an additional 13 shares in the last quarter. Finally, Griffin Asset Management Inc. lifted its stake in Equinix by 0.7% in the 1st quarter. Griffin Asset Management Inc. now owns 1,771 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX traded down $3.76 during trading on Thursday, reaching $792.45. 169,873 shares of the company traded hands, compared to its average volume of 644,904. The company's 50 day moving average is $841.92 and its two-hundred day moving average is $860.13. The firm has a market capitalization of $77.52 billion, a PE ratio of 82.35, a PEG ratio of 1.48 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $8.86 EPS. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.37%. Equinix's dividend payout ratio is currently 195.01%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer owned 9,615 shares of the company's stock, 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. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 in the last ninety days. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EQIX shares. Stifel Nicolaus cut their target price on 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. Cfra Research cut Equinix from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, June 26th. JMP Securities reissued a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a report on Tuesday. Scotiabank decreased their target price on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research note on Thursday, June 26th. Finally, Guggenheim initiated coverage on shares of Equinix in a research note on Thursday, July 10th. They issued a "buy" rating and a $933.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $957.05.

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.