The Manufacturers Life Insurance Company increased its position in shares of Equinix Inc (NASDAQ:EQIX) by 3.3% in the 1st quarter, HoldingsChannel reports. The fund owned 81,175 shares of the financial services provider’s stock after acquiring an additional 2,614 shares during the period. The Manufacturers Life Insurance Company’s holdings in Equinix were worth $36,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Eagle Boston Investment Management Inc. increased its stake in Equinix by 1.1% during the 1st quarter. Eagle Boston Investment Management Inc. now owns 2,075 shares of the financial services provider’s stock valued at $940,000 after purchasing an additional 23 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in Equinix by 15.5% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 186 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 25 shares in the last quarter. Taylor Frigon Capital Management LLC increased its stake in Equinix by 1.2% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 2,328 shares of the financial services provider’s stock valued at $821,000 after purchasing an additional 27 shares in the last quarter. Eaton Vance Management increased its stake in Equinix by 2.2% during the 4th quarter. Eaton Vance Management now owns 1,356 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 29 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Equinix by 25.6% during the 1st quarter. Cornerstone Advisors Inc. now owns 152 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 99.65% of the company’s stock.

In related news, CEO Charles J. Meyers sold 500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $439.91, for a total transaction of $219,955.00. Following the sale, the chief executive officer now directly owns 6,164 shares of the company’s stock, valued at $2,711,605.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Earl Campbell sold 1,250 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $490.87, for a total transaction of $613,587.50. Following the sale, the insider now directly owns 2,578 shares in the company, valued at $1,265,462.86. The disclosure for this sale can be found here. Insiders sold 3,732 shares of company stock worth $1,775,800 in the last quarter. Company insiders own 0.49% of the company’s stock.

A number of research analysts have issued reports on EQIX shares. BidaskClub upgraded shares of Equinix from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 24th. Nomura upped their price target on shares of Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, March 29th. Citigroup upped their price target on shares of Equinix from $508.00 to $527.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Mitsubishi UFJ Financial Group upped their price target on shares of Equinix from $460.00 to $484.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Credit Suisse Group upped their price target on shares of Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $502.00.

Shares of NASDAQ:EQIX traded up $0.76 during midday trading on Wednesday, reaching $505.00. The company’s stock had a trading volume of 3,495 shares, compared to its average volume of 501,282. The firm has a market capitalization of $40.86 billion, a P/E ratio of 24.41, a PEG ratio of 1.73 and a beta of 0.75. Equinix Inc has a twelve month low of $335.29 and a twelve month high of $508.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.16 by ($3.72). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Equinix had a return on equity of 5.66% and a net margin of 8.06%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.21 EPS. Equities analysts anticipate that Equinix Inc will post 20.81 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be paid a $2.46 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.95%. Equinix’s payout ratio is currently 47.56%.

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About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

Read More: Leveraged Buyout (LBO) Explained

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix Inc (NASDAQ:EQIX).

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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