Trillium Asset Management LLC Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

Trillium Asset Management LLC cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,672 shares of the financial services provider’s stock after selling 321 shares during the quarter. Trillium Asset Management LLC’s holdings in Equinix were worth $26,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EQIX. Kestra Investment Management LLC purchased a new stake in shares of Equinix during the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in Equinix in the fourth quarter valued at approximately $39,000. Sierra Ocean LLC purchased a new stake in Equinix in the fourth quarter valued at approximately $42,000. Dunhill Financial LLC grew 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 purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix in the fourth quarter valued at approximately $47,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Trading Down 1.9 %

NASDAQ EQIX opened at $841.26 on Wednesday. The company’s fifty day simple moving average is $908.77 and its 200-day simple moving average is $909.04. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. 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 stock has a market cap of $81.88 billion, a P/E 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 EPS for the quarter, topping analysts’ consensus estimates 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 predict 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 given a dividend of $4.69 per share. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

Insider Activity at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were 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 in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Scotiabank boosted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix has a consensus rating of “Buy” and a consensus price target of $989.35.

About Equinix

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.