Price T Rowe Associates Inc. MD Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Price T Rowe Associates Inc. MD boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,902,053 shares of the financial services provider's stock after purchasing an additional 14,294 shares during the period. Price T Rowe Associates Inc. MD owned 1.97% of Equinix worth $1,793,429,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after purchasing an additional 3,212 shares during the period. Bank of New York Mellon Corp lifted its holdings in Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock worth $592,191,000 after buying an additional 2,560 shares during the period. National Pension Service grew its position in shares of Equinix by 1.3% in the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after buying an additional 3,164 shares during the last quarter. Empowered Funds LLC grew its position in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Equinix by 46.1% in the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider's stock valued at $278,712,000 after buying an additional 92,975 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Charles J. Meyers sold 3,562 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total value of $3,309,240.48. Following the transaction, the chairman now owns 15,513 shares in the company, valued at approximately $14,412,197.52. This represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock valued at $6,547,068 over the last three months. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

EQIX has been the topic of several analyst reports. BMO Capital Markets reduced their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Oppenheimer upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Truist Financial dropped their target price on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Finally, Citizens Jmp raised Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Equinix currently has an average rating of "Buy" and a consensus target price of $1,004.94.

Equinix Stock Down 0.1 %

Shares of Equinix stock traded down $0.45 on Monday, hitting $837.65. The company had a trading volume of 97,508 shares, compared to its average volume of 635,473. Equinix, Inc. has a 1 year low of $684.14 and a 1 year 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 stock has a 50 day moving average of $835.22 and a 200-day moving average of $895.32. The stock has a market capitalization of $81.94 billion, a price-to-earnings ratio of 97.97, a P/E/G ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is presently 219.42%.

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.