MetLife Investment Management LLC Sells 648 Shares of Equinix, Inc. (NASDAQ:EQIX)

MetLife Investment Management LLC decreased its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,803 shares of the financial services provider’s stock after selling 648 shares during the period. MetLife Investment Management LLC’s holdings in Equinix were worth $24,679,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in Equinix in the 1st quarter valued at approximately $31,000. GHP Investment Advisors Inc. raised its stake in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its position in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Equinix during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EQIX shares. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $952.88.

Insider Activity at Equinix

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This represents a 99.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX opened at $979.10 on Thursday. The firm has a market cap of $94.47 billion, a P/E ratio of 88.29, a PEG ratio of 2.51 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a 50-day moving average of $898.34 and a 200 day moving average of $830.42.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.74%. Equinix’s payout ratio is 153.65%.

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.