Kornitzer Capital Management Inc. KS Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,412 shares of the financial services provider’s stock after selling 46 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Equinix were worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Venturi Wealth Management LLC raised its holdings in shares of Equinix by 37.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,739 shares of the financial services provider’s stock worth $1,640,000 after purchasing an additional 470 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Equinix by 6.6% during the fourth quarter. Truist Financial Corp now owns 48,320 shares of the financial services provider’s stock worth $45,560,000 after purchasing an additional 2,990 shares during the last quarter. Blue Chip Partners LLC raised its holdings in shares of Equinix by 1.6% during the fourth quarter. Blue Chip Partners LLC now owns 13,090 shares of the financial services provider’s stock worth $12,343,000 after purchasing an additional 212 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Equinix by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 14,788 shares of the financial services provider’s stock worth $13,943,000 after purchasing an additional 801 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in shares of Equinix by 3.7% during the fourth quarter. Sanctuary Advisors LLC now owns 18,378 shares of the financial services provider’s stock worth $16,946,000 after purchasing an additional 664 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Barclays lifted their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, Oppenheimer lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $994.82.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. The trade was a 7.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,826 shares of company stock worth $15,555,490 in the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

EQIX opened at $939.08 on Thursday. The firm has a market capitalization of $91.40 billion, a PE ratio of 109.83, a PEG ratio of 2.24 and a beta of 0.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm’s 50-day moving average price is $932.87 and its 200 day moving average price is $899.70. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, sell-side analysts expect that Equinix, Inc. will post 33.71 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.00%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s payout ratio is presently 199.30%.

About Equinix

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.