American Assets Investment Management LLC Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

American Assets Investment Management LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 30.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 997 shares of the financial services provider’s stock after selling 442 shares during the quarter. American Assets Investment Management LLC’s holdings in Equinix were worth $940,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Haven Capital Group Inc. purchased a new stake in Equinix in the 4th quarter worth $609,000. Signaturefd LLC increased its holdings in shares of Equinix by 6.0% in the 4th quarter. Signaturefd LLC now owns 1,438 shares of the financial services provider’s stock worth $1,356,000 after buying an additional 81 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Equinix by 16.2% in the 4th quarter. Parallel Advisors LLC now owns 825 shares of the financial services provider’s stock worth $778,000 after buying an additional 115 shares during the last quarter. Cibc World Markets Corp increased its holdings in shares of Equinix by 10.8% in the 4th quarter. Cibc World Markets Corp now owns 52,859 shares of the financial services provider’s stock worth $49,840,000 after buying an additional 5,155 shares during the last quarter. Finally, GLOBALT Investments LLC GA bought a new stake in shares of Equinix in the 4th quarter worth about $4,963,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 125 shares of the 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 directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock opened at $857.25 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $83.44 billion, a P/E ratio of 100.26, a P/E/G ratio of 1.78 and a beta of 0.74. The company’s 50-day simple moving average is $910.74 and its two-hundred day simple moving average is $909.00. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is presently 219.42%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank boosted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Barclays boosted their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Truist Financial reduced their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Finally, Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $989.35.

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.