Polar Asset Management Partners Inc. Sells 6,300 Shares of Equinix, Inc. (NASDAQ:EQIX)

Polar Asset Management Partners Inc. trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 41.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,900 shares of the financial services provider’s stock after selling 6,300 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Equinix were worth $8,392,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ProShare Advisors LLC grew its position in Equinix by 7.5% during the fourth quarter. ProShare Advisors LLC now owns 18,859 shares of the financial services provider’s stock worth $17,782,000 after buying an additional 1,316 shares in the last quarter. Quantinno Capital Management LP grew its position in Equinix by 21.0% during the fourth quarter. Quantinno Capital Management LP now owns 11,312 shares of the financial services provider’s stock worth $10,667,000 after buying an additional 1,960 shares in the last quarter. Pathstone Holdings LLC grew its position in Equinix by 3.9% during the fourth quarter. Pathstone Holdings LLC now owns 13,489 shares of the financial services provider’s stock worth $12,718,000 after buying an additional 512 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in Equinix during the fourth quarter worth about $1,344,000. Finally, Nissay Asset Management Corp Japan ADV grew its position in Equinix by 2.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 25,108 shares of the financial services provider’s stock worth $23,668,000 after buying an additional 689 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

NASDAQ:EQIX opened at $867.24 on Friday. The stock has a market cap of $84.83 billion, a PE ratio of 101.43, a P/E/G ratio of 1.78 and a beta of 0.97. The business’s 50-day simple moving average is $824.67 and its two-hundred day simple moving average is $893.06. 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 52 week low of $701.41 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the business posted $8.86 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is 195.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial cut their price objective on Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a report on Monday. Cowen reiterated a “buy” rating on shares of Equinix in a report on Thursday, May 1st. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Finally, Scotiabank cut their price objective on Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $1,004.89.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This trade represents a 7.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. The trade was a 9.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,167 shares of company stock valued at $6,658,536 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.