Equinix, Inc. (NASDAQ:EQIX) Stock Position Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,085,677 shares of the financial services provider’s stock after selling 16,451 shares during the quarter. Equinix comprises approximately 1.1% of Pictet Asset Management Holding SA’s holdings, making the stock its 12th largest position. Pictet Asset Management Holding SA’s holdings in Equinix were worth $1,023,674,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Equinix by 80.0% during the third quarter. Larson Financial Group LLC now owns 108 shares of the financial services provider’s stock worth $96,000 after buying an additional 48 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Equinix by 3,780.0% in the third quarter. Loomis Sayles & Co. L P now owns 194 shares of the financial services provider’s stock worth $172,000 after buying an additional 189 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Equinix by 20.8% in the third quarter. Brown Brothers Harriman & Co. now owns 151 shares of the financial services provider’s stock valued at $134,000 after buying an additional 26 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Equinix by 2.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 68,247 shares of the financial services provider’s stock valued at $60,578,000 after acquiring an additional 1,761 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 research reports. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Barclays lifted their price target on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price for the company in a report on Thursday. Scotiabank boosted their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. 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 for the company in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $989.39.

Equinix Trading Down 0.7 %

NASDAQ:EQIX opened at $825.31 on Friday. The company’s 50 day moving average is $898.21 and its 200-day moving average is $908.63. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market cap of $80.33 billion, a price-to-earnings ratio of 96.53, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS 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%. Equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Activity at Equinix

In other news, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares in the company, valued at $20,085,186.32. The trade was a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 in the last 90 days. 0.27% of the stock is owned by company insiders.

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.