QRG Capital Management Inc. Sells 21 Shares of Equinix, Inc. (NASDAQ:EQIX)

QRG Capital Management Inc. lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,719 shares of the financial services provider’s stock after selling 21 shares during the period. QRG Capital Management Inc.’s holdings in Equinix were worth $1,621,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Equinix in the 4th quarter valued at about $31,000. Sierra Ocean LLC bought a new stake in shares of Equinix during the 4th quarter valued at about $42,000. Dunhill Financial LLC boosted its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Equinix during the 4th quarter valued at about $47,000. Finally, Key Financial Inc boosted its position in shares of Equinix by 30.4% during the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 14 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock opened at $904.62 on Monday. The company has a market cap of $88.05 billion, a PE ratio of 105.80, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The business has a 50 day moving average price of $928.20 and a 200-day moving average price of $905.68. 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 issued its quarterly earnings data 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 return on equity of 6.31% and a net margin of 9.32%. Equities 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. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.07%. Equinix’s dividend payout ratio is 219.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EQIX shares. Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Truist Financial upped their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, Wells Fargo & Company cut their target price 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. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $994.82.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,241 shares of company stock valued at $20,531,762 over the last ninety days. 0.27% of the stock is currently owned by insiders.

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.