Equinix, Inc. (NASDAQ:EQIX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,675 shares of the financial services provider's stock after selling 5,572 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Equinix worth $59,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Inspire Trust Co. N.A. increased its position in shares of Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock valued at $1,509,000 after purchasing an additional 11 shares during the last quarter. Rothschild Investment LLC boosted its stake in Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after buying an additional 11 shares during the period. Legacy Financial Advisors Inc. increased its position in Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock valued at $340,000 after acquiring an additional 11 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock valued at $633,000 after acquiring an additional 12 shares during the period. Finally, Great Lakes Retirement Inc. lifted its holdings in shares of Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock worth $920,000 after acquiring an additional 12 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Up 1.1 %

Shares of NASDAQ EQIX traded up $9.39 during mid-day trading on Monday, reaching $885.24. 81,104 shares of the company were exchanged, compared to its average volume of 540,843. The firm has a 50-day moving average of $828.81 and a 200 day moving average of $894.69. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $86.59 billion, a price-to-earnings ratio of 103.54, a P/E/G ratio of 1.78 and a beta of 0.95.

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

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio is presently 195.01%.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Keith D. Taylor sold 2,454 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the transaction, the chief financial officer now owns 24,402 shares of the company's stock, valued at approximately $22,677,754.68. This represents a 9.14 % 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 worth $6,547,068 over the last three months. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EQIX shares. TD Securities upped their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday. New Street Research upgraded Equinix to a "strong-buy" rating in a report on Monday, April 28th. Oppenheimer raised their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Mizuho cut their price objective on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Finally, Truist Financial reduced their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $1,004.05.

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.