Arrowstreet Capital Limited Partnership Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

Arrowstreet Capital Limited Partnership increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 389.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,290 shares of the financial services provider’s stock after acquiring an additional 28,077 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Equinix were worth $33,275,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EQIX. Kestra Investment Management LLC acquired a new position in shares of Equinix during the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new position in Equinix during the fourth quarter worth about $42,000. Dunhill Financial LLC increased its holdings in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Equinix during the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.8 %

Shares of NASDAQ:EQIX opened at $831.55 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $80.94 billion, a price-to-earnings ratio of 97.26, a PEG ratio of 1.78 and a beta of 0.74. The stock’s 50-day moving average price is $889.74 and its two-hundred day moving average price is $907.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. On average, research analysts forecast that Equinix, Inc. will post 33.1 EPS 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 given a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is 219.42%.

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 341 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares of the company’s stock, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on EQIX. Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Barclays upped their target price on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Scotiabank lifted their price target on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. BMO Capital Markets lowered their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price for the company in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average 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.