Adelante Capital Management LLC Sells 363,137 Shares of Equinix, Inc. (NASDAQ:EQIX)

Adelante Capital Management LLC lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 70.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,087 shares of the financial services provider’s stock after selling 363,137 shares during the period. Equinix comprises 9.1% of Adelante Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Adelante Capital Management LLC owned 0.16% of Equinix worth $142,458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the 4th quarter worth about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the 4th quarter worth about $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix in the 4th quarter worth about $42,000. Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the 4th quarter worth about $47,000. Finally, Key Financial Inc raised its holdings in shares of Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 14 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock worth $6,547,068 over the last ninety days. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

NASDAQ:EQIX opened at $851.65 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a market cap of $83.31 billion, a price-to-earnings ratio of 99.61, a PEG ratio of 1.78 and a beta of 0.95. The business’s fifty day moving average is $831.55 and its 200 day moving average is $894.83.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.20%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EQIX. Barclays upped their price objective on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Wolfe Research raised shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a research report on Thursday, March 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Citigroup reduced their price objective on shares of Equinix from $1,020.00 to $970.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and a consensus price target of $1,004.94.

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.