Davis Selected Advisers Sells 130 Shares of Equinix, Inc. (NASDAQ:EQIX)

Davis Selected Advisers cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 19,198 shares of the financial services provider’s stock after selling 130 shares during the period. Davis Selected Advisers’ holdings in Equinix were worth $18,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EQIX. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter valued at $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix in the 4th quarter valued at $39,000. Sierra Ocean LLC purchased a new position in shares of Equinix in the 4th quarter valued at $42,000. Dunhill Financial LLC increased its holdings in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new position in shares of Equinix in the 4th quarter valued at $47,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EQIX shares. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada boosted their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays boosted their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and a consensus target price of $995.24.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the transaction, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares in the company, valued at $20,085,186.32. The trade was a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Down 1.4 %

Shares of NASDAQ EQIX opened at $859.52 on Friday. The company’s 50-day simple moving average is $923.05 and its 200-day simple moving average is $906.88. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a market cap of $83.66 billion, a price-to-earnings ratio of 100.53, 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 (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%. Equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.18%. Equinix’s dividend payout ratio (DPR) is 219.42%.

About Equinix

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.