Jennison Associates LLC Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Jennison Associates LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 31.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,951 shares of the financial services provider’s stock after selling 13,576 shares during the quarter. Jennison Associates LLC’s holdings in Equinix were worth $24,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in Equinix during the 3rd quarter worth approximately $292,000. DAVENPORT & Co LLC purchased a new position in Equinix during the 3rd quarter worth approximately $222,000. Founders Financial Securities LLC raised its position in Equinix by 9.7% during the 3rd quarter. Founders Financial Securities LLC now owns 598 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares during the last quarter. UMB Bank n.a. raised its position in Equinix by 48.6% during the 3rd quarter. UMB Bank n.a. now owns 55 shares of the financial services provider’s stock worth $40,000 after buying an additional 18 shares during the last quarter. Finally, Oak Thistle LLC raised its position in Equinix by 185.7% during the 3rd quarter. Oak Thistle LLC now owns 760 shares of the financial services provider’s stock worth $552,000 after buying an additional 494 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of Equinix stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of Equinix stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the transaction, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,164 shares of Equinix stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock valued at $3,818,268 in the last three months. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada raised their price target on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Oppenheimer raised their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Wells Fargo & Company raised their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Finally, HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a research note on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Down 0.7 %

Shares of EQIX opened at $756.84 on Thursday. The firm has a market cap of $71.61 billion, a P/E ratio of 73.41, a price-to-earnings-growth ratio of 1.97 and a beta of 0.58. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93. The company’s 50-day moving average price is $828.73 and its 200 day moving average price is $803.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio is currently 165.28%.

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.