Cerity Partners LLC Acquires 1,253 Shares of Equinix, Inc. (NASDAQ:EQIX)

Cerity Partners LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 63.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,242 shares of the financial services provider's stock after purchasing an additional 1,253 shares during the period. Cerity Partners LLC's holdings in Equinix were worth $2,611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its stake in Equinix by 15.5% in the first quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider's stock valued at $509,000 after acquiring an additional 92 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Equinix by 5.3% in the first quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider's stock valued at $867,000 after acquiring an additional 59 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Equinix by 182.8% in the first quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider's stock valued at $195,000 after acquiring an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Equinix by 10.3% in the first quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider's stock valued at $127,000 after acquiring an additional 16 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Equinix by 300.0% in the first quarter. Covestor Ltd now owns 172 shares of the financial services provider's stock valued at $128,000 after acquiring an additional 129 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

NASDAQ:EQIX traded up $8.15 during trading hours on Friday, hitting $748.00. 611,907 shares of the company traded hands, compared to its average volume of 559,897. The stock has a market capitalization of $70.78 billion, a price-to-earnings ratio of 72.55, a P/E/G ratio of 1.90 and a beta of 0.58. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The firm has a 50-day moving average of $833.57 and a 200 day moving average of $801.57. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix's dividend payout ratio (DPR) is presently 165.28%.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now owns 14,002 shares of the company's stock, valued at approximately $11,661,425.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Keith D. Taylor sold 1,164 shares of the company's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the sale, the chief financial officer now owns 23,187 shares of the company's stock, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the company's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EQIX shares. Barclays reduced their target price on shares of Equinix from $818.00 to $669.00 and set an "equal weight" rating for the company in a research note on Wednesday. BMO Capital Markets boosted their price objective on shares of Equinix from $910.00 to $925.00 and gave the stock an "outperform" rating in a research note on Thursday, February 15th. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a "buy" rating in a research note on Monday, March 18th. Wells Fargo & Company boosted their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 15th. Finally, Morgan Stanley reduced their price objective on shares of Equinix from $767.00 to $762.00 and set an "equal weight" rating for the company in a research note on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has an average rating of "Moderate Buy" and a consensus price target of $862.50.

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.