Foresight Group Ltd Liability Partnership Trims Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Foresight Group Ltd Liability Partnership lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,036 shares of the financial services provider’s stock after selling 6,544 shares during the quarter. Equinix comprises about 11.8% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its 4th largest position. Foresight Group Ltd Liability Partnership’s holdings in Equinix were worth $19,835,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after buying an additional 33,277 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Equinix by 17.9% in the third 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after buying an additional 53,729 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock worth $7,906,218 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $919.89 on Friday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a 50-day moving average of $941.51 and a two-hundred day moving average of $874.47. The stock has a market cap of $88.76 billion, a price-to-earnings ratio of 82.95, a PEG ratio of 2.12 and a beta of 0.73. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.85%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EQIX shares. Wells Fargo & Company raised their target price on Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Barclays increased their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average target price of $976.81.

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.