Los Angeles Capital Management LLC Has $36.33 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Los Angeles Capital Management LLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,534 shares of the financial services provider’s stock after selling 397 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Equinix were worth $36,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EQIX. Van ECK Associates Corp increased its holdings in shares of Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares in the last quarter. Brookfield Corp ON boosted its position in Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares during the last quarter. Empowered Funds LLC boosted its position in Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. Thematics Asset Management increased its stake in shares of Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after buying an additional 6,000 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of Equinix by 46.1% during the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock worth $278,712,000 after acquiring an additional 92,975 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the sale, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,741 shares of company stock valued at $21,988,532. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.3 %

NASDAQ EQIX opened at $906.66 on Wednesday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market cap of $88.25 billion, a P/E ratio of 106.04, a P/E/G ratio of 1.78 and a beta of 0.72. The stock’s 50-day moving average is $929.20 and its 200-day moving average is $904.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

Analyst Ratings Changes

EQIX has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Barclays boosted their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Finally, Royal Bank of Canada upped their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $994.82.

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.