Tredje AP fonden Sells 8,560 Shares of Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Tredje AP fonden reduced its stake in Equinix, Inc. by 23.3%, selling 8,560 shares during the 1st quarter, leaving it with 28,134 shares valued at approximately $22.94 million.
• Multiple brokerages have recently adjusted their target prices for Equinix, with Scotiabank lowering its target from $1,030 to $965, while JPMorgan Chase reduced its target from $975 to $935.
• Equinix's upcoming quarterly dividend is set at $4.69 per share, representing a yield of 2.35%, despite a high dividend payout ratio of 195.01%.

Tredje AP fonden reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,134 shares of the financial services provider's stock after selling 8,560 shares during the period. Tredje AP fonden's holdings in Equinix were worth $22,939,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EQIX. Legacy Financial Advisors Inc. raised its position in shares of Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock valued at $340,000 after buying an additional 11 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Equinix by 40.0% in the first 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 during the period. Signaturefd LLC increased its stake in Equinix by 0.8% in the first 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 during the period. AE Wealth Management LLC increased its stake in Equinix by 5.1% in the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider's stock valued at $202,000 after acquiring an additional 12 shares during the period. Finally, Nemes Rush Group LLC grew its stake in Equinix by 18.3% during the fourth quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider's stock worth $79,000 after buying an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQIX has been the topic of several research analyst reports. UBS Group decreased their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Barclays decreased their price objective on shares of Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a research note on Friday, July 11th. The Goldman Sachs Group decreased their price objective on shares of Equinix from $1,020.00 to $880.00 and set a "buy" rating on the stock in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Citigroup upped their price objective on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. 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's stock. According to MarketBeat, Equinix has an average rating of "Buy" and an average price target of $957.27.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction 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 owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction 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 completion of the transaction, the insider directly owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock valued at $2,808,008 over the last quarter. Corporate insiders own 0.27% of the company's stock.

Equinix Trading Down 1.7%

EQIX traded down $13.42 during mid-day trading on Friday, hitting $771.75. The stock had a trading volume of 500,622 shares, compared to its average volume of 645,087. The stock's fifty day simple moving average is $833.04 and its 200-day simple moving average is $854.59. 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 firm has a market capitalization of $75.49 billion, a price-to-earnings ratio of 75.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.27%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm earned $9.22 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. 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.