Symmetry Investments LP Lowers Position in Equinix, Inc. (NASDAQ:EQIX)

Symmetry Investments LP lowered its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 54.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,001 shares of the financial services provider's stock after selling 1,195 shares during the period. Symmetry Investments LP's holdings in Equinix were worth $944,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after acquiring an additional 5,910 shares during the period. Pine Valley Investments Ltd Liability Co boosted its position in shares of Equinix by 49.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider's stock valued at $1,414,000 after purchasing an additional 524 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Equinix during the third quarter worth approximately $582,000. Cim Investment Management Inc. increased its holdings in Equinix by 31.4% in the third quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider's stock worth $3,261,000 after purchasing an additional 879 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Equinix by 12.9% in the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock valued at $22,880,000 after buying an additional 2,940 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the business's stock in a transaction 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 sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,040 shares of company stock valued at $6,547,068 in the last 90 days. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $2.33 during midday trading on Monday, reaching $835.77. The company had a trading volume of 156,346 shares, compared to its average volume of 548,187. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company's 50 day moving average price is $835.22 and its 200 day moving average price is $895.32. 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 stock has a market cap of $81.75 billion, a P/E ratio of 97.61, a P/E/G ratio of 1.78 and a beta of 0.95.

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

Equinix Increases Dividend

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

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Barclays lifted their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Citigroup dropped their price objective on shares of Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Scotiabank reduced 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. Mizuho dropped their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research note on Friday, March 28th. Finally, Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and a consensus target price of $1,004.94.

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.