Equinix, Inc. $EQIX Shares Sold by Barton Investment Management

Barton Investment Management decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,256 shares of the financial services provider’s stock after selling 597 shares during the quarter. Equinix accounts for about 2.9% of Barton Investment Management’s portfolio, making the stock its 6th largest holding. Barton Investment Management’s holdings in Equinix were worth $27,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EQIX. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Equinix by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after buying an additional 7,409 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after buying an additional 588,967 shares in the last quarter. Chilton Capital Management LLC raised its position in shares of Equinix by 5.1% in the 3rd quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock valued at $28,908,000 after buying an additional 1,805 shares in the last quarter. Foresight Group Ltd Liability Partnership raised its position in shares of Equinix by 10.0% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock valued at $20,425,000 after buying an additional 2,378 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock valued at $376,193,000 after buying an additional 32,790 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock opened at $1,016.08 on Tuesday. The company has a 50 day simple moving average of $931.21 and a 200 day simple moving average of $836.36. The stock has a market cap of $99.83 billion, a price-to-earnings ratio of 73.90, a P/E/G ratio of 2.57 and a beta of 1.01. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $1,016.39. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.Equinix’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.92 earnings per share. Research 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 was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were given a dividend of $5.16 per share. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is currently 150.11%.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.25, for a total value of $1,072,065.25. Following the completion of the transaction, the insider directly owned 9,551 shares in the company, valued at approximately $7,681,391.75. This represents a 12.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the transaction, the chief financial officer owned 26,373 shares of the company’s stock, valued at approximately $21,208,375.41. This trade represents a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,842 shares of company stock worth $14,494,840 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. TD Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Truist Financial restated a “buy” rating and issued a $1,127.00 target price (up from $1,087.00) on shares of Equinix in a research report on Tuesday, March 31st. Finally, UBS Group upped their price objective on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.86.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.