Red Cedar Investment Management LLC Has $1.84 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Red Cedar Investment Management LLC reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,948 shares of the financial services provider’s stock after selling 1,267 shares during the period. Red Cedar Investment Management LLC’s holdings in Equinix were worth $1,837,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. GHP Investment Advisors Inc. boosted its position in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Dunhill Financial LLC boosted its position 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 buying an additional 25 shares in the last quarter. Thompson Investment Management Inc. acquired a new position in Equinix in the fourth quarter valued at about $47,000. Finally, Friedenthal Financial acquired a new position in Equinix in the fourth quarter valued at about $58,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EQIX shares. 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 company an “equal weight” rating in a research report on Monday, November 18th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday. Three 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 stock. According to MarketBeat.com, Equinix has an average rating of “Buy” and a consensus target price of $994.82.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,801 shares of company stock valued at $15,530,564. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Up 1.1 %

EQIX opened at $933.60 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $90.08 billion, a price-to-earnings ratio of 84.18, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The firm has a 50 day simple moving average of $935.90 and a 200 day simple moving average of $894.96. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. On average, sell-side analysts anticipate that Equinix, Inc. will post 31.09 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is presently 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.