First Citizens Bank & Trust Co. Has $981,000 Stock Position in Equinix, Inc. (NASDAQ:EQIX)

First Citizens Bank & Trust Co. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 85.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,203 shares of the financial services provider's stock after selling 6,919 shares during the period. First Citizens Bank & Trust Co.'s holdings in Equinix were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. raised its position in 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 purchasing an additional 88,654 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after buying an additional 62,005 shares in the last quarter. FMR LLC raised its holdings in shares of Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after buying an additional 81,144 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock worth $1,827,847,000 after buying an additional 44,471 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Equinix by 0.8% in 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 buying an additional 14,294 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on EQIX shares. Stifel Nicolaus boosted their price target on Equinix from $1,030.00 to $1,050.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Scotiabank decreased their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 22nd. Cowen reaffirmed a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. BNP Paribas raised Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, TD Securities raised their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $1,004.80.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,176 shares of company stock valued at $2,808,008. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

NASDAQ EQIX traded up $6.12 during trading hours on Thursday, hitting $899.82. 83,379 shares of the stock were exchanged, compared to its average volume of 598,461. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a market cap of $88.02 billion, a price-to-earnings ratio of 105.24, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The stock has a 50-day moving average of $845.84 and a 200 day moving average of $890.18. 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 (NASDAQ:EQIX - Get Free Report) last announced its quarterly 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 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%. Equinix's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $8.86 earnings per share. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio is currently 195.01%.

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.