Allstate Corp Trims Position in Equinix, Inc. (NASDAQ:EQIX)

Allstate Corp trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,327 shares of the financial services provider’s stock after selling 267 shares during the period. Allstate Corp’s holdings in Equinix were worth $12,566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Inspire Trust Co. N.A. boosted its holdings in shares of Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. Rothschild Investment LLC boosted its stake in Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after buying an additional 11 shares during the period. Ritholtz Wealth Management increased its position in Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 12 shares during the last quarter. Great Lakes Retirement Inc. raised its stake in shares of Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after acquiring an additional 12 shares during the period. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock worth $17,466,950. Insiders own 0.27% of the company’s stock.

Equinix Trading Down 2.7 %

Shares of NASDAQ EQIX opened at $803.00 on Friday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The business has a fifty day moving average price of $895.96 and a 200 day moving average price of $908.43. The stock has a market capitalization of $78.16 billion, a P/E ratio of 93.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. Equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.34%. Equinix’s dividend payout ratio is presently 219.42%.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of 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. Royal Bank of Canada raised their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer upped their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Truist Financial decreased their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Buy” and a consensus price target of $1,007.59.

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.