Allstate Corp Trims Position in Equinix, Inc. (NASDAQ:EQIX)

Allstate Corp reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 13,327 shares of the financial services provider’s stock after selling 267 shares during the period. Allstate Corp’s holdings in Equinix were worth $12,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EQIX. Kestra Investment Management LLC purchased a new position in shares of Equinix during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the fourth quarter valued at approximately $39,000. Sierra Ocean LLC acquired a new position in Equinix in the fourth quarter valued at approximately $42,000. Dunhill Financial LLC boosted its position in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Equinix during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on EQIX. Barclays increased their price target on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Scotiabank increased their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Equinix Stock Down 2.7 %

EQIX stock opened at $803.00 on Friday. The company has a market cap of $78.16 billion, a price-to-earnings ratio of 93.92, a PEG ratio of 1.78 and a beta of 0.74. The firm has a 50-day moving average of $895.96 and a two-hundred day moving average of $908.43. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

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.