Man Group plc Has $97.63 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Man Group plc cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 44.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,540 shares of the financial services provider's stock after selling 81,260 shares during the period. Man Group plc owned about 0.11% of Equinix worth $97,627,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new position in Equinix in the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new position in Equinix in the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new position in Equinix in the fourth quarter worth about $42,000. Thompson Investment Management Inc. acquired a new position in Equinix in the fourth quarter worth about $47,000. Finally, Cary Street Partners Financial LLC acquired a new position in Equinix in the fourth quarter worth about $52,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on EQIX shares. Truist Financial decreased their target price on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Citigroup lifted their target price on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Citizens Jmp upgraded Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Two research 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 stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $1,004.89.

Insider Buying and Selling at Equinix

In other news, insider Kurt Pletcher sold 215 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares in the company, valued at $1,157,513.85. The trade was a 14.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now owns 17,669 shares of the company's stock, valued at $16,117,838.49. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,167 shares of company stock valued at $6,658,536 in the last three months. 0.27% of the stock is currently owned by company insiders.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $8.68 during trading on Friday, hitting $875.92. The company had a trading volume of 589,430 shares, compared to its average volume of 525,366. The company has a market cap of $85.68 billion, a P/E ratio of 102.45, a PEG ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The business's 50-day moving average is $825.46 and its 200 day moving average is $892.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

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

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is currently 195.01%.

About Equinix

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.