Westfield Capital Management Co. LP Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Westfield Capital Management Co. LP lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 69,419 shares of the financial services provider’s stock after selling 1,307 shares during the period. Westfield Capital Management Co. LP’s holdings in Equinix were worth $57,294,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EQIX. Cohen & Steers Inc. grew its stake in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Norges Bank purchased a new stake in shares of Equinix during the fourth quarter worth about $1,574,132,000. Principal Financial Group Inc. grew its holdings in Equinix by 14.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after buying an additional 213,740 shares in the last quarter. Wellington Management Group LLP grew its holdings in Equinix by 1.4% during the 4th quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock valued at $799,270,000 after buying an additional 13,274 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in Equinix by 13.5% during the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after buying an additional 112,194 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $8.25 during trading hours on Friday, hitting $786.82. The stock had a trading volume of 234,266 shares, compared to its average volume of 447,134. The stock’s fifty day simple moving average is $771.25 and its 200 day simple moving average is $797.37. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The firm has a market capitalization of $74.68 billion, a price-to-earnings ratio of 78.92, a PEG ratio of 2.72 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio is 170.91%.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction on 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 owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix 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 sale, 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 is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of Equinix 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 sale, the director now owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Royal Bank of Canada decreased 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. Barclays boosted their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. The Goldman Sachs Group initiated coverage on Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Morgan Stanley dropped their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Finally, Mizuho started coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target on the stock. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $872.38.

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.