Oppenheimer Asset Management Inc. Cuts Position in Equinix, Inc. (NASDAQ:EQIX)

Oppenheimer Asset Management Inc. lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 16.4% in the fourth quarter, Holdings Channel reports. The firm owned 6,289 shares of the financial services provider’s stock after selling 1,238 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Equinix were worth $5,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Equinix by 302.7% in the 3rd 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 acquiring an additional 813,666 shares during the period. Adelante Capital Management LLC raised its position in Equinix by 202.3% in 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 purchasing an additional 344,114 shares during the period. JPMorgan Chase & Co. raised its position in Equinix by 17.9% in 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 purchasing an additional 203,656 shares during the period. abrdn plc lifted its stake in shares of Equinix by 49.2% during the fourth quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock worth $437,563,000 after purchasing an additional 153,215 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Equinix by 200.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 149,274 shares of the financial services provider’s stock worth $132,500,000 after buying an additional 99,577 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $904.62 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $88.05 billion, a price-to-earnings ratio of 105.80, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The business has a 50 day simple moving average of $928.20 and a 200-day simple moving average of $904.71.

Equinix (NASDAQ:EQIX) last released 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 net margin of 9.32% and a return on equity of 6.31%. As a group, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed 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 a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.07%. Equinix’s dividend payout ratio is 219.42%.

Analyst Ratings Changes

EQIX has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets reduced their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Oppenheimer raised their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Finally, Truist Financial raised their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. 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 stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average target price of $994.82.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated 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. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,741 shares of company stock worth $21,988,532 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Company 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.