Handelsbanken Fonder AB Lowers Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Handelsbanken Fonder AB trimmed its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,551 shares of the financial services provider's stock after selling 1,819 shares during the quarter. Handelsbanken Fonder AB's holdings in Equinix were worth $35,509,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake 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 in the last quarter. Apollon Wealth Management LLC grew its position in Equinix by 10.8% during the 4th quarter. Apollon Wealth Management LLC now owns 1,247 shares of the financial services provider's stock worth $1,176,000 after acquiring an additional 122 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Equinix in the fourth quarter valued at about $362,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Equinix by 24.5% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 817 shares of the financial services provider's stock worth $770,000 after purchasing an additional 161 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Up 0.8%

EQIX traded up $6.78 during trading hours on Thursday, hitting $900.48. 100,410 shares of the company's stock were exchanged, compared to its average volume of 523,855. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The firm has a 50 day moving average of $845.84 and a 200 day moving average of $890.18. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $88.08 billion, a P/E ratio of 105.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $8.86 earnings per share. Analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business 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. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is currently 195.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial dropped their price objective on Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Scotiabank dropped their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 22nd. Mizuho decreased their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. Finally, Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat, Equinix currently has an average rating of "Buy" and an average target price of $1,004.80.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director now directly owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is owned by corporate insiders.

Equinix Company 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.