GS Investments Inc. Lowers Position in Equinix, Inc. (NASDAQ:EQIX)

GS Investments Inc. trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,160 shares of the financial services provider’s stock after selling 191 shares during the quarter. GS Investments Inc.’s holdings in Equinix were worth $2,037,000 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 EQIX. Kestra Investment Management LLC purchased a new stake in shares of Equinix during the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in shares of Equinix during the 4th quarter worth $39,000. Sierra Ocean LLC purchased a new position in shares of Equinix in the 4th quarter worth about $42,000. Dunhill Financial LLC grew its position in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the period. Finally, Thompson Investment Management Inc. bought a new position in Equinix during the fourth quarter valued at about $47,000. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $855.33 on Thursday. The business’s 50-day moving average price is $906.85 and its 200-day moving average price is $908.67. The firm has a market capitalization of $83.25 billion, a PE ratio of 100.04, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. 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 announced its quarterly earnings data 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%. Sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.19%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Oppenheimer increased their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three investment 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 company. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average target price of $989.35.

Insider Activity

In other news, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock valued at $17,466,950. Insiders own 0.27% of the company’s stock.

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.