Jennison Associates LLC Sells 13,576 Shares of Equinix, Inc. (NASDAQ:EQIX)

Jennison Associates LLC decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 31.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,951 shares of the financial services provider's stock after selling 13,576 shares during the quarter. Jennison Associates LLC's holdings in Equinix were worth $24,122,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Braun Stacey Associates Inc. lifted its position in Equinix by 12.5% in the fourth quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider's stock worth $25,938,000 after buying an additional 3,591 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Equinix by 9.8% in the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider's stock worth $109,459,000 after acquiring an additional 12,129 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Equinix by 127.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider's stock worth $1,130,000 after purchasing an additional 787 shares during the period. TIAA Trust National Association boosted its stake in shares of Equinix by 126.8% during the 4th quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider's stock worth $3,417,000 after purchasing an additional 2,372 shares during the period. Finally, DNB Asset Management AS grew its holdings in Equinix by 20.3% during the 4th quarter. DNB Asset Management AS now owns 24,459 shares of the financial services provider's stock valued at $19,699,000 after purchasing an additional 4,132 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Trading Down 2.4 %

NASDAQ EQIX traded down $18.49 on Thursday, reaching $738.35. The stock had a trading volume of 812,622 shares, compared to its average volume of 568,639. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a fifty day moving average price of $826.00 and a two-hundred day moving average price of $802.61. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93. The firm has a market capitalization of $69.86 billion, a price-to-earnings ratio of 71.62, a P/E/G ratio of 1.97 and a beta of 0.58.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.31%. The ex-dividend date was Tuesday, February 27th. Equinix's payout ratio is 165.28%.

Insider Activity at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Keith D. Taylor sold 1,164 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the transaction, the chief financial officer now owns 23,187 shares in the company, valued at $19,314,307.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock worth $3,818,268 in the last three months. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

EQIX has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a "buy" rating and set a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Oppenheimer raised their price objective on Equinix from $875.00 to $950.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 20th. Truist Financial upped their target price on Equinix from $915.00 to $950.00 and gave the company a "buy" rating in a research report on Monday, March 18th. 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 report on Thursday, March 28th. Finally, Barclays dropped their target price on Equinix from $818.00 to $669.00 and set an "equal weight" rating for the company in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Equinix has an average rating of "Moderate Buy" and a consensus target price of $862.50.

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.