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

The Manufacturers Life Insurance Company lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.2% in the fourth quarter, according to its most recent filing 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 period. The Manufacturers Life Insurance Company owned approximately 0.06% of Equinix worth $59,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix in the fourth quarter valued at approximately $39,000. Sierra Ocean LLC acquired a new position in Equinix during the fourth quarter worth $42,000. Thompson Investment Management Inc. purchased a new position in shares of Equinix during the fourth quarter worth $47,000. Finally, Key Financial Inc grew its stake in shares of Equinix by 30.4% in the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock valued at $57,000 after buying an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other news, insider Kurt Pletcher sold 215 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares of the company's stock, valued at $1,157,513.85. This represents a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares of the company's stock, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,040 shares of company stock worth $6,547,068 in the last quarter. Company insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ EQIX traded up $13.88 during trading hours on Friday, reaching $875.85. The stock had a trading volume of 443,317 shares, compared to its average volume of 543,538. The firm has a 50-day moving average of $828.81 and a 200-day moving average of $894.55. The firm has a market cap of $85.67 billion, a price-to-earnings ratio of 102.44, a PEG ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

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, topping analysts' consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the firm posted $8.86 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio is currently 195.01%.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of research analyst reports. BMO Capital Markets lowered their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Scotiabank dropped their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 22nd. 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 report on Thursday, February 13th. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a research report on Thursday, March 27th. Finally, New Street Research upgraded Equinix to a "strong-buy" rating in a report on Monday, April 28th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of "Buy" and an average target price 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.