Corebridge Financial Inc. Sells 225 Shares of Equinix, Inc. (NASDAQ:EQIX)

Corebridge Financial Inc. lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,207 shares of the financial services provider’s stock after selling 225 shares during the period. Corebridge Financial Inc.’s holdings in Equinix were worth $24,710,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Kestra Investment Management LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the fourth quarter valued at $39,000. Sierra Ocean LLC bought a new stake in Equinix in the fourth quarter worth $42,000. Dunhill Financial LLC grew its stake in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new position in shares of Equinix during the fourth quarter valued at $47,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EQIX shares. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Oppenheimer upped their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. 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, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $990.06.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 over the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $834.59 on Monday. The stock has a market cap of $81.23 billion, a P/E ratio of 97.61, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock’s fifty day moving average is $903.56 and its 200 day moving average is $909.38. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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 return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.25%. Equinix’s dividend payout ratio is 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.