Nuveen Asset Management LLC Has $781.91 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Nuveen Asset Management LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 829,270 shares of the financial services provider's stock after selling 1,660 shares during the period. Nuveen Asset Management LLC owned 0.86% of Equinix worth $781,910,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Equinix in the fourth quarter valued at $1,067,270,000. Northern Trust Corp grew its holdings in Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the last quarter. Wellington Management Group LLP grew its holdings in Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Equinix in the 4th quarter valued at about $328,899,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Equinix in the fourth quarter worth about $246,000. Institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EQIX shares. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Scotiabank lowered their target price on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 22nd. Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a research report on Thursday, March 27th. Barclays raised their price target on Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Finally, JMP Securities reissued a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $1,004.89.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,245 shares in the company, valued at $1,157,513.85. This trade represents a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,167 shares of company stock valued at $6,658,536 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Equinix Price Performance

Shares of EQIX opened at $868.79 on Wednesday. The stock has a 50 day simple moving average of $823.94 and a 200 day simple moving average of $893.62. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $84.98 billion, a PE ratio of 101.61, a P/E/G ratio of 1.78 and a beta of 0.97.

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

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio is 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.

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