Tenere Capital LLC Makes New $16.88 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Tenere Capital LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,900 shares of the financial services provider's stock, valued at approximately $16,878,000. Equinix makes up 4.5% of Tenere Capital LLC's holdings, making the stock its 10th biggest position.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in Equinix in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased 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 in the fourth quarter valued at $42,000. Thompson Investment Management Inc. acquired a new position in Equinix during the 4th quarter worth $47,000. Finally, Key Financial Inc increased its holdings in Equinix by 30.4% during the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EQIX shares. Wells Fargo & Company decreased their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Citigroup dropped their target price on Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Oppenheimer raised 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. 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 assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix currently has an average rating of "Buy" and a consensus price target of $1,004.94.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix 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 transaction, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the transaction, the insider now owns 1,245 shares of the company's stock, valued at approximately $1,157,513.85. This represents a 14.73 % 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 ninety days. Insiders own 0.27% of the company's stock.

Equinix Price Performance

Equinix stock traded down $2.33 during midday trading on Monday, reaching $835.77. The company's stock had a trading volume of 156,346 shares, compared to its average volume of 548,192. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a market capitalization of $81.75 billion, a PE ratio of 97.61, a P/E/G ratio of 1.78 and a beta of 0.95. The stock's 50 day simple moving average is $835.22 and its 200 day simple moving average is $895.32.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current 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 issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.24%. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is 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.