Equinix, Inc. (NASDAQ:EQIX) Stake Lessened by Stevens Capital Management LP

Stevens Capital Management LP lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 722 shares of the financial services provider’s stock after selling 32 shares during the period. Stevens Capital Management LP’s holdings in Equinix were worth $641,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. increased its position in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after buying an additional 19,844 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Equinix by 302.7% during the third 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 worth $960,820,000 after buying an additional 813,666 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Equinix by 21.5% during the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after buying an additional 159,576 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock opened at $965.64 on Thursday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. 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 firm has a market capitalization of $93.17 billion, a P/E ratio of 87.07, a P/E/G ratio of 2.48 and a beta of 0.72. The company’s 50 day moving average price is $907.28 and its two-hundred day moving average price is $836.57.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Barclays lifted their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $962.56.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. This trade represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. This represents a 99.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,969 shares of company stock valued at $10,033,525 over the last quarter. 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.