Equinix, Inc. (NASDAQ:EQIX) Position Trimmed by AIA Group Ltd

AIA Group Ltd lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,051 shares of the financial services provider’s stock after selling 92 shares during the quarter. AIA Group Ltd’s holdings in Equinix were worth $1,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EQIX. Valley National Advisers Inc. lifted its holdings in shares of Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares during the last quarter. Providence Capital Advisors LLC acquired a new stake in shares of Equinix during the 3rd quarter valued at about $29,000. Operose Advisors LLC acquired a new stake in shares of Equinix during the 3rd quarter valued at about $36,000. Asset Dedication LLC lifted its holdings in shares of Equinix by 92.6% during the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after buying an additional 25 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Equinix by 237.5% during the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock valued at $39,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, CEO Charles J. Meyers sold 2,110 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the sale, the chief executive officer now directly owns 10,115 shares in the company, valued at $8,422,659.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Equinix news, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares in the company, valued at $1,034,548.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the sale, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EQIX shares. Royal Bank of Canada boosted their target price on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wells Fargo & Company boosted their target price on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a report on Wednesday, March 20th. Morgan Stanley reduced their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. Seven 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Performance

EQIX opened at $739.85 on Friday. The stock has a market cap of $70.00 billion, a PE ratio of 71.76, a P/E/G ratio of 1.90 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93. The stock’s 50 day simple moving average is $835.72 and its 200-day simple moving average is $801.33.

Equinix Dividend Announcement

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

Equinix Company 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.