Taikang Asset Management Hong Kong Co Ltd Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

Taikang Asset Management Hong Kong Co Ltd reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 43.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,942 shares of the financial services provider’s stock after selling 2,270 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Equinix were worth $2,774,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Equinix in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix in the fourth quarter valued at approximately $39,000. Sierra Ocean LLC bought a new position in Equinix in the fourth quarter worth approximately $42,000. Dunhill Financial LLC increased its holdings in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. bought a new stake in Equinix during the 4th quarter valued at $47,000. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EQIX has been the topic of several research reports. Wells Fargo & Company cut their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada raised their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial lowered their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, Barclays upped their target price on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Three equities research 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 data from MarketBeat.com, Equinix presently has an average rating of “Buy” and an average target price of $990.06.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now directly owns 1,430 shares of the company’s stock, valued at $1,292,319.60. This represents a 19.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’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 transaction, the chief executive officer now directly owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by company insiders.

Equinix Stock Up 2.1 %

EQIX stock opened at $852.44 on Tuesday. The stock has a market capitalization of $82.97 billion, a PE ratio of 99.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $902.62 and a 200 day moving average of $909.60.

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

Equinix Increases Dividend

The company also recently announced 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. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.20%. Equinix’s payout ratio is 219.42%.

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.