Edgewood Management LLC Has $27.70 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Edgewood Management LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,381 shares of the financial services provider’s stock after selling 5,086 shares during the period. Equinix accounts for 0.1% of Edgewood Management LLC’s portfolio, making the stock its 26th largest holding. Edgewood Management LLC’s holdings in Equinix were worth $27,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EQIX. Oppenheimer & Co. Inc. boosted its holdings in shares of Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after buying an additional 3,212 shares during the period. Bank of New York Mellon Corp lifted its position in Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after acquiring an additional 2,560 shares during the last quarter. National Pension Service boosted its holdings in Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after acquiring an additional 3,164 shares during the period. Brookfield Corp ON grew its position in shares of Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after purchasing an additional 404 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several recent analyst reports. Scotiabank increased their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Cfra Research raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Barclays boosted their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Truist Financial decreased their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $1,007.59.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 over the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Trading Down 4.4 %

Shares of EQIX stock opened at $766.21 on Friday. 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 company has a market capitalization of $74.58 billion, a P/E ratio of 89.62, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The firm has a 50-day moving average price of $883.46 and a 200 day moving average price of $906.51.

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

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.45%. Equinix’s dividend payout ratio (DPR) is 219.42%.

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.