Mackenzie Financial Corp Sells 10,735 Shares of Equinix, Inc. (NASDAQ:EQIX)

Mackenzie Financial Corp lowered its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 18.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,513 shares of the financial services provider's stock after selling 10,735 shares during the quarter. Mackenzie Financial Corp's holdings in Equinix were worth $37,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after buying an additional 73 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of Equinix during the fourth quarter worth $2,027,000. Level Four Advisory Services LLC raised its holdings in shares of Equinix by 4.0% during the fourth quarter. Level Four Advisory Services LLC now owns 524 shares of the financial services provider's stock worth $494,000 after acquiring an additional 20 shares during the period. Brown Brothers Harriman & Co. increased its stake in Equinix by 58.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 240 shares of the financial services provider's stock valued at $226,000 after buying an additional 89 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Equinix by 389.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 35,290 shares of the financial services provider's stock valued at $33,275,000 after buying an additional 28,077 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 17,569 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction that occurred 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 sale, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

Equinix stock traded down $13.42 during midday trading on Friday, hitting $771.75. The company's stock had a trading volume of 500,622 shares, compared to its average volume of 645,087. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The company has a 50-day moving average price of $833.04 and a two-hundred day moving average price of $854.59. The company has a market cap of $75.49 billion, a price-to-earnings ratio of 75.59, a PEG ratio of 1.47 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating the consensus estimate of $3.49 by $6.42. The company had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.27%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $9.22 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. Equinix's payout ratio is presently 195.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EQIX shares. Stifel Nicolaus decreased their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. BMO Capital Markets downgraded shares of Equinix from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Truist Financial decreased their price objective on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research report on Tuesday, July 1st. JMP Securities reissued a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target 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.