Intact Investment Management Inc. Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

Intact Investment Management Inc. trimmed its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 11.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,378 shares of the financial services provider's stock after selling 542 shares during the period. Intact Investment Management Inc.'s holdings in Equinix were worth $3,570,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EQIX. Brighton Jones LLC grew its position in Equinix by 28.9% in the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after purchasing an additional 73 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Equinix in the 4th quarter worth about $2,027,000. Kestra Investment Management LLC bought a new stake in Equinix in the 4th quarter worth about $31,000. Global Retirement Partners LLC grew its position in Equinix by 11.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,527 shares of the financial services provider's stock worth $1,440,000 after purchasing an additional 157 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in Equinix by 7.7% in the 4th quarter. Private Advisor Group LLC now owns 3,221 shares of the financial services provider's stock worth $3,037,000 after purchasing an additional 229 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director now directly owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now directly owns 1,842 shares of the company's stock, valued at $1,616,723.40. This represents a 6.45% 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 valued at $2,808,008 in the last three months. Company insiders own 0.27% of the company's stock.

Equinix Price Performance

NASDAQ:EQIX traded down $3.97 during trading hours on Friday, hitting $882.88. The stock had a trading volume of 788,142 shares, compared to its average volume of 529,118. The company has a 50 day simple moving average of $862.84 and a two-hundred day simple moving average of $884.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The firm has a market capitalization of $86.36 billion, a price-to-earnings ratio of 91.78, a P/E/G ratio of 1.15 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. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the firm earned $8.86 EPS. The business's quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's payout ratio is 195.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EQIX shares. JMP Securities reissued a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Friday, May 23rd. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Stifel Nicolaus increased their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Barclays increased their target price on shares of Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat, Equinix has an average rating of "Buy" and an average price target of $1,004.80.

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.