Raymond James & Associates Has $138.53 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Raymond James & Associates cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,848 shares of the financial services provider’s stock after selling 8,116 shares during the quarter. Raymond James & Associates’ holdings in Equinix were worth $138,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Equinix by 0.3% in the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after acquiring an additional 34,926 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after buying an additional 13,988 shares during the last quarter. Norges Bank bought a new stake in shares of Equinix during the 4th quarter worth about $1,574,132,000. Principal Financial Group Inc. boosted its position in Equinix by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock worth $1,156,193,000 after purchasing an additional 37,150 shares during the period. Finally, Northern Trust Corp grew its stake in Equinix by 1.7% in the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock valued at $862,790,000 after buying an additional 20,241 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Trading Down 2.1 %

NASDAQ:EQIX traded down $15.23 during trading hours on Tuesday, hitting $711.11. The stock had a trading volume of 1,090,476 shares, compared to its average volume of 582,697. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $67.29 billion, a price-to-earnings ratio of 68.97, a P/E/G ratio of 1.89 and a beta of 0.58. The business’s 50 day moving average is $818.03 and its 200-day moving average is $803.06.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.40%. The ex-dividend date was Tuesday, February 27th. Equinix’s payout ratio is presently 165.28%.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Equinix news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the sale, the chief executive officer now owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,585 shares of company stock valued at $3,818,268. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on EQIX. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Morgan Stanley decreased their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. BMO Capital Markets lifted their target price on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Wells Fargo & Company lifted their target price on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $862.50.

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.