Stevens Capital Management LP Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

Stevens Capital Management LP lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 70.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 215 shares of the financial services provider’s stock after selling 507 shares during the quarter. Stevens Capital Management LP’s holdings in Equinix were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EQIX. Principal Financial Group Inc. grew its position in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Equinix by 76.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 39 shares in the last quarter. Cerity Partners LLC increased its position in shares of Equinix by 64.7% in the 3rd quarter. Cerity Partners LLC now owns 9,728 shares of the financial services provider’s stock valued at $8,635,000 after purchasing an additional 3,820 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Equinix by 80.0% in the 3rd quarter. Larson Financial Group LLC now owns 108 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 48 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its position in shares of Equinix by 34.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 809 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 207 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX opened at $852.44 on Tuesday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock has a market capitalization of $82.97 billion, a P/E ratio of 99.70, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company’s fifty day moving average is $902.62 and its two-hundred day moving average is $909.60.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.20%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company cut their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Scotiabank boosted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Finally, Barclays increased their target price on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $990.06.

Equinix 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.