Nicollet Investment Management Inc. Sells 19 Shares of Equinix, Inc. (NASDAQ:EQIX)

Nicollet Investment Management Inc. reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,749 shares of the financial services provider’s stock after selling 19 shares during the quarter. Equinix makes up about 1.2% of Nicollet Investment Management Inc.’s portfolio, making the stock its 28th biggest holding. Nicollet Investment Management Inc.’s holdings in Equinix were worth $3,535,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EQIX. Inspire Trust Co. N.A. increased its stake in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 11 shares in the last quarter. Rothschild Investment LLC grew its holdings in Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after buying an additional 11 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 12 shares in the last quarter. Great Lakes Retirement Inc. lifted its position in shares of Equinix by 1.2% during the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock worth $920,000 after buying an additional 12 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after buying an additional 12 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQIX has been the topic of a number of recent analyst reports. Scotiabank lifted their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Royal Bank of Canada boosted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the transaction, the insider now owns 1,430 shares in the company, valued at approximately $1,292,319.60. This represents a 19.25 % 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 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Equinix stock opened at $815.35 on Tuesday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a market cap of $79.36 billion, a P/E ratio of 95.36, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average of $893.95 and a 200-day moving average of $908.64.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. Sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.30%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is presently 219.42%.

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.