AlphaQuest LLC Has $189,000 Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

AlphaQuest LLC cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 92.1% during the fourth quarter, Holdings Channel reports. The firm owned 200 shares of the financial services provider’s stock after selling 2,344 shares during the quarter. AlphaQuest LLC’s holdings in Equinix were worth $189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after buying an additional 813,666 shares during the period. Raymond James Financial Inc. acquired a new position in Equinix during the fourth quarter valued at $328,899,000. Adelante Capital Management LLC raised its position in Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after buying an additional 344,114 shares during the period. Proficio Capital Partners LLC acquired a new position in Equinix during the fourth quarter valued at $246,000. Finally, JPMorgan Chase & Co. raised its position in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $837.68 on Monday. The business has a 50 day moving average price of $912.40 and a 200 day moving average price of $908.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a market cap of $81.53 billion, a price-to-earnings ratio of 97.97, a PEG ratio of 1.78 and a beta of 0.74. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating 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%. Research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.24%. Equinix’s dividend payout ratio is presently 219.42%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQIX. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Wells Fargo & Company lowered their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $989.35.

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares of the company’s stock, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 in the last 90 days. 0.27% of the stock is owned by company insiders.

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.