MetLife Investment Management LLC Lowers Position in Equinix, Inc. (NASDAQ:EQIX)

MetLife Investment Management LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,803 shares of the financial services provider’s stock after selling 648 shares during the period. MetLife Investment Management LLC’s holdings in Equinix were worth $24,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC grew its position in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after acquiring an additional 398,494 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Equinix by 104.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after buying an additional 160,906 shares in the last quarter. Clearbridge Investments LLC lifted its position in Equinix by 21.5% in the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after buying an additional 159,576 shares during the last quarter. Finally, PGGM Investments boosted its stake in Equinix by 55.8% in the first quarter. PGGM Investments now owns 414,217 shares of the financial services provider’s stock worth $341,866,000 after buying an additional 148,365 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their price objective 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. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Insider Buying and Selling at Equinix

In related news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. This trade represents a 99.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Up 0.1 %

EQIX stock opened at $979.10 on Thursday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a market capitalization of $94.47 billion, a price-to-earnings ratio of 88.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71. The business’s 50 day moving average price is $898.34 and its two-hundred day moving average price is $830.42. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. Equinix’s dividend payout ratio (DPR) is 153.65%.

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.