Twin Capital Management Inc. Has $3.84 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Twin Capital Management Inc. reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,763 shares of the financial services provider’s stock after selling 98 shares during the quarter. Twin Capital Management Inc.’s holdings in Equinix were worth $3,836,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EQIX. Balentine LLC lifted its stake in Equinix by 0.8% in the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after buying an additional 14 shares during the period. DRW Securities LLC raised its holdings in shares of Equinix by 2.7% during the 2nd quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock worth $419,000 after buying an additional 14 shares in the last quarter. Equitable Holdings Inc. raised its holdings in shares of Equinix by 0.5% during the 1st quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock worth $2,224,000 after buying an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Equinix by 0.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock worth $2,021,000 after acquiring an additional 15 shares during the last quarter. Finally, Legacy Advisors LLC grew its position in Equinix by 1.6% during the 3rd quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 15 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock traded up $5.07 on Thursday, reaching $739.63. The company’s stock had a trading volume of 165,324 shares, compared to its average volume of 554,736. The stock’s 50 day simple moving average is $838.03 and its 200-day simple moving average is $801.76. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $69.98 billion, a P/E ratio of 71.25, a PEG ratio of 1.92 and a beta of 0.58.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.30%. Equinix’s payout ratio is 165.28%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now directly owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the transaction, the chairman now directly owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $960.00 price objective on shares of Equinix in a research report on Wednesday, March 13th. Barclays reduced their price target on Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research report on Wednesday. BMO Capital Markets upped their target price on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Oppenheimer upped their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a research note on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

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.