Equinix, Inc. (NASDAQ:EQIX) Holdings Trimmed by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 227 shares of the financial services provider’s stock after selling 42 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Equinix were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in shares of Equinix in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new stake in Equinix during the fourth quarter worth approximately $39,000. Sierra Ocean LLC acquired a new position in Equinix in the fourth quarter worth approximately $42,000. Dunhill Financial LLC lifted its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in shares of Equinix during the 4th quarter worth $47,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction dated 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 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.

Analysts Set New Price Targets

EQIX has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays upped their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Scotiabank lifted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus raised their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $989.35.

Equinix Stock Performance

EQIX stock opened at $837.68 on Friday. The firm has a 50 day moving average of $912.40 and a two-hundred day moving average of $907.43. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market capitalization of $81.53 billion, a price-to-earnings ratio of 97.97, a P/E/G ratio of 1.78 and a beta of 0.74. 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 (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating 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 fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. Equinix’s dividend payout ratio is currently 219.42%.

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.