Jennison Associates LLC Purchases 26,612 Shares of Equinix, Inc. (NASDAQ:EQIX)

Jennison Associates LLC increased its position in Equinix, Inc. (NASDAQ:EQIX) by 88.9% during the first quarter, HoldingsChannel.com reports. The firm owned 56,563 shares of the financial services provider’s stock after acquiring an additional 26,612 shares during the quarter. Jennison Associates LLC’s holdings in Equinix were worth $46,683,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EQIX. CNB Bank lifted its stake in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the period. Valley National Advisers Inc. increased its holdings in Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Equinix during the 4th quarter valued at $32,000. Rise Advisors LLC bought a new position in Equinix in the 1st quarter worth $39,000. Finally, Anchor Investment Management LLC purchased a new position in Equinix during the fourth quarter valued at $49,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQIX. Oppenheimer raised their price objective on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial lifted their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. TD Cowen lowered their target price on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Royal Bank of Canada cut their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Finally, The Goldman Sachs Group began coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 target price for the company. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $872.33.

Equinix Trading Up 0.3 %

EQIX stock traded up $2.43 during trading on Monday, hitting $756.92. The company had a trading volume of 292,041 shares, compared to its average volume of 590,630. The firm has a market capitalization of $71.84 billion, a P/E ratio of 75.92, a PEG ratio of 2.62 and a beta of 0.68. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a 50 day simple moving average of $756.97 and a 200-day simple moving average of $798.04. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio is presently 170.91%.

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.