Thrivent Financial for Lutherans Has $88.30 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Thrivent Financial for Lutherans cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 38.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,661 shares of the financial services provider’s stock after selling 58,780 shares during the quarter. Thrivent Financial for Lutherans owned about 0.10% of Equinix worth $88,303,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the fourth quarter worth $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix in the fourth quarter worth $42,000. Dunhill Financial LLC lifted its stake in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the fourth quarter worth $47,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company’s stock, 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 have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by insiders.

Equinix Stock Down 1.9 %

EQIX opened at $841.26 on Wednesday. The firm’s 50-day simple moving average is $908.77 and its 200-day simple moving average is $909.04. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market cap of $81.88 billion, a price-to-earnings ratio of 98.39, a PEG ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.23%. Equinix’s dividend payout ratio is presently 219.42%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective 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. 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 note on Monday, March 3rd. BMO Capital Markets cut their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $989.35.

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.