11,843 Shares in Equinix, Inc. (NASDAQ:EQIX) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,843 shares of the financial services provider’s stock, valued at approximately $11,167,000.

A number of other hedge funds have also recently bought and sold shares of EQIX. State Street Corp increased its stake in Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its stake in Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares in the last quarter. Principal Financial Group Inc. increased its stake in Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Equinix by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock worth $1,107,860,000 after purchasing an additional 40,791 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Up 0.4 %

Shares of EQIX stock opened at $837.68 on Friday. The stock’s 50 day simple moving average is $912.40 and its 200 day simple moving average is $907.43. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a market capitalization of $81.53 billion, a price-to-earnings ratio of 97.97, a PEG ratio of 1.78 and a beta of 0.74.

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, beating 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%. As a group, research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EQIX shares. Truist Financial dropped their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Oppenheimer raised their price objective on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets decreased their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Barclays raised their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $989.35.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the transaction, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

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.