Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,948 shares of the financial services provider’s stock after selling 1,267 shares during the period. Red Cedar Investment Management LLC’s holdings in Equinix were worth $1,837,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. lifted its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Dunhill Financial LLC lifted its position 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 in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $47,000. Finally, Friedenthal Financial purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $58,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX opened at $933.60 on Friday. The company has a market capitalization of $90.08 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. Equinix, Inc. has a one year low of $684.14 and a one year 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 company’s fifty day moving average price is $935.90 and its 200 day moving average price is $894.96.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. As a group, analysts expect that Equinix, Inc. will post 31.09 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This is an increase 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 2.01%. Equinix’s payout ratio is presently 153.65%.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now owns 1,015 shares in the company, valued at approximately $976,633. This trade represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research reports. Stifel Nicolaus lifted 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. Barclays lifted their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Truist Financial lifted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. TD Cowen lifted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three equities research 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 stock. According to data from MarketBeat, Equinix has a consensus rating of “Buy” and an average price target of $994.82.

Equinix 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.