Sei Investments Co. Has $247.65 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Sei Investments Co. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 262,655 shares of the financial services provider’s stock after selling 9,384 shares during the period. Sei Investments Co.’s holdings in Equinix were worth $247,654,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EQIX. Principal Financial Group Inc. increased its holdings in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in Equinix in the third quarter worth approximately $224,000. PNC Financial Services Group Inc. increased its holdings in Equinix by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 13,168 shares of the financial services provider’s stock worth $11,688,000 after purchasing an additional 531 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Equinix by 19.8% in the third quarter. Advisors Asset Management Inc. now owns 4,691 shares of the financial services provider’s stock worth $4,164,000 after purchasing an additional 774 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Equinix by 76.5% in the third quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 39 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $308,168.52. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last 90 days. Insiders own 0.27% of the company’s stock.

Equinix Stock Down 2.0 %

EQIX stock opened at $834.59 on Friday. The stock’s fifty day simple moving average is $903.56 and its two-hundred day simple moving average is $908.28. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a market cap of $81.23 billion, a P/E ratio of 97.61, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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 return on equity of 6.31% and a net margin of 9.32%. Analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets decreased their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Oppenheimer boosted their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and an average price target of $990.06.

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.