Rafferty Asset Management LLC Sells 799 Shares of Equinix, Inc. (NASDAQ:EQIX)

Rafferty Asset Management LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,696 shares of the financial services provider's stock after selling 799 shares during the quarter. Rafferty Asset Management LLC's holdings in Equinix were worth $11,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of EQIX. Kestra Investment Management LLC bought a new position in shares of Equinix during the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix during the fourth quarter valued at about $39,000. Sierra Ocean LLC bought a new position in shares of Equinix during the fourth quarter valued at about $42,000. Thompson Investment Management Inc. bought a new position in shares of Equinix during the fourth quarter valued at about $47,000. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Equinix in the fourth quarter worth about $52,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.7%

EQIX traded up $6.12 during trading on Thursday, reaching $865.26. The stock had a trading volume of 119,034 shares, compared to its average volume of 523,590. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $84.64 billion, a price-to-earnings ratio of 101.18, a P/E/G ratio of 1.78 and a beta of 0.97. The stock's 50 day moving average is $827.18 and its two-hundred day moving average is $892.21. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.86 EPS. As a group, analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio is 195.01%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. New Street Research upgraded Equinix to a "strong-buy" rating in a report on Monday, April 28th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. JMP Securities restated a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, May 1st. Truist Financial decreased their target price on shares of Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Barclays increased their price target on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $1,004.65.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction 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 sale, the director now directly owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

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.