Sei Investments Co. Has $247.65 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Sei Investments Co. reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 262,655 shares of the financial services provider’s stock after selling 9,384 shares during the period. Sei Investments Co. owned about 0.27% of Equinix worth $247,654,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of EQIX. State Street Corp boosted its holdings in shares of Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after acquiring an additional 44,471 shares during the period. JPMorgan Chase & Co. grew its holdings in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Equinix by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock worth $1,107,860,000 after buying an additional 40,791 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

NASDAQ:EQIX opened at $834.59 on Friday. The stock’s 50-day simple moving average is $903.56 and its 200 day simple moving average is $908.28. The firm has a market capitalization of $81.23 billion, a PE ratio of 97.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. 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, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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 return on equity of 6.31% and a net margin of 9.32%. On average, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EQIX. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Truist Financial lowered their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. BMO Capital Markets lowered their price objective on 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. Finally, Oppenheimer increased their price objective on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $990.06.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, the chief executive officer now directly owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by corporate insiders.

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.