Pathway Financial Advisers LLC Sells 398,489 Shares of Equinix, Inc. (NASDAQ:EQIX)

Pathway Financial Advisers LLC trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 99.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 451 shares of the financial services provider’s stock after selling 398,489 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Equinix were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of EQIX. Van ECK Associates Corp raised its holdings in shares of Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after buying an additional 1,716 shares during the last quarter. Brookfield Corp ON lifted its position in shares of Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of Equinix by 3.0% during the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares during the last quarter. Thematics Asset Management increased its holdings in shares of Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Equinix by 46.1% in the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock worth $278,712,000 after purchasing an additional 92,975 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 0.9 %

EQIX stock opened at $935.20 on Thursday. 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 stock has a market capitalization of $90.24 billion, a P/E ratio of 84.33, a P/E/G ratio of 2.23 and a beta of 0.72. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The business has a 50-day moving average of $936.92 and a 200-day moving average of $894.76.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results 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 8.34% and a net margin of 12.29%. On average, sell-side analysts anticipate that Equinix, Inc. will post 31.09 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.01%. Equinix’s payout ratio is 153.65%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $996.06.

Insider Transactions at Equinix

In related news, insider Kurt Pletcher sold 222 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the transaction, the insider now directly owns 1,015 shares of the company’s stock, valued at approximately $976,633. This represents a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the business’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 transaction, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,801 shares of company stock worth $15,530,564 in the last three months. Insiders own 0.27% of the company’s stock.

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.