Yousif Capital Management LLC Reduces Position in Equinix, Inc. (NASDAQ:EQIX)

Yousif Capital Management LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,303 shares of the financial services provider’s stock after selling 397 shares during the quarter. Yousif Capital Management LLC’s holdings in Equinix were worth $13,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EQIX. Braun Stacey Associates Inc. raised its position in Equinix by 12.5% in the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after purchasing an additional 3,591 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Equinix by 9.8% in the fourth quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock valued at $109,459,000 after buying an additional 12,129 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Equinix by 127.8% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock worth $1,130,000 after buying an additional 787 shares during the period. TIAA Trust National Association grew its holdings in shares of Equinix by 126.8% during the fourth quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock worth $3,417,000 after buying an additional 2,372 shares during the last quarter. Finally, DNB Asset Management AS increased its position in Equinix by 20.3% in the 4th quarter. DNB Asset Management AS now owns 24,459 shares of the financial services provider’s stock valued at $19,699,000 after acquiring an additional 4,132 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley decreased their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Oppenheimer lifted their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Wells Fargo & Company upped their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a report on Wednesday, March 20th. Finally, Truist Financial increased their price target on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $862.50.

Equinix Price Performance

EQIX stock traded down $3.48 during midday trading on Wednesday, hitting $758.42. 558,839 shares of the stock were exchanged, compared to its average volume of 562,413. 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 stock has a market cap of $71.76 billion, a price-to-earnings ratio of 73.90, a PEG ratio of 1.95 and a beta of 0.58. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93. The stock’s 50-day moving average price is $830.25 and its 200-day moving average price is $803.39.

Equinix Announces Dividend

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

Insider Activity at Equinix

In other news, Chairman Camp Peter Van sold 122 shares of the firm’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 transaction of $101,396.64. Following the completion of the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Keith D. Taylor sold 1,164 shares of Equinix stock in a transaction on 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 sale, the chief financial officer now owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction dated 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 approximately $6,622,364.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,585 shares of company stock valued at $3,818,268. 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.