Polar Asset Management Partners Inc. Has $8.39 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Polar Asset Management Partners Inc. trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 41.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,900 shares of the financial services provider's stock after selling 6,300 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Equinix were worth $8,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC acquired a new stake in shares of Equinix during the fourth quarter worth $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix during the fourth quarter worth $42,000. Thompson Investment Management Inc. acquired a new stake in shares of Equinix during the fourth quarter worth $47,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Equinix during the fourth quarter worth $52,000. 94.94% of the stock is owned by institutional investors.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director now directly owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the business'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 value of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 911 shares of company stock worth $841,718 over the last ninety days. Insiders own 0.27% of the company's stock.

Equinix Trading Down 0.2%

Shares of NASDAQ:EQIX traded down $2.09 during midday trading on Wednesday, hitting $869.12. 79,085 shares of the stock were exchanged, compared to its average volume of 522,431. The stock has a market capitalization of $85.02 billion, a price-to-earnings ratio of 101.76, a P/E/G ratio of 1.78 and a beta of 0.97. 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 business's 50-day moving average price is $826.75 and its 200 day moving average price is $892.44. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 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 business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the prior year, the business posted $8.86 earnings per share. The firm's revenue was up 4.1% on a year-over-year basis. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's payout ratio is presently 195.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EQIX shares. Cowen reissued a "buy" rating on shares of Equinix in a report on Thursday, May 1st. Scotiabank dropped their price target 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. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. TD Securities boosted their price target on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and an average target price of $1,004.65.

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.