Nicollet Investment Management Inc. Sells 19 Shares of Equinix, Inc. (NASDAQ:EQIX)

Nicollet Investment Management Inc. lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,749 shares of the financial services provider’s stock after selling 19 shares during the period. Equinix makes up approximately 1.2% of Nicollet Investment Management Inc.’s holdings, making the stock its 28th largest position. Nicollet Investment Management Inc.’s holdings in Equinix were worth $3,535,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EQIX. Oppenheimer & Co. Inc. increased its position in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after acquiring an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after purchasing an additional 2,560 shares during the last quarter. National Pension Service boosted its holdings in shares of Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after buying an additional 3,164 shares during the last quarter. Brookfield Corp ON grew its position in Equinix by 67.3% during the third 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 period. Finally, Empowered Funds LLC increased its holdings in Equinix by 19.2% during the fourth 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. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now owns 17,669 shares of the company’s stock, valued at $16,117,838.49. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by insiders.

Equinix Trading Up 1.5 %

Shares of EQIX opened at $815.35 on Tuesday. The stock has a market capitalization of $79.36 billion, a PE ratio of 95.36, a P/E/G ratio of 1.78 and a beta of 0.74. The company’s fifty day moving average is $893.95 and its 200 day moving average is $908.64. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) 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%. Sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.30%. Equinix’s payout ratio is 219.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on EQIX shares. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Mizuho cut their price target on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a report on Friday. Wolfe Research upgraded Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target for the company in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price objective 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. Finally, Scotiabank increased their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has a consensus rating of “Buy” and an average target price of $1,007.59.

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.