Gateway Investment Advisers LLC Sells 16 Shares of Equinix, Inc. (NASDAQ:EQIX)

Gateway Investment Advisers LLC lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 676 shares of the financial services provider’s stock after selling 16 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Equinix were worth $558,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Equinix during the 4th quarter valued at approximately $1,574,132,000. Public Employees Retirement Association of Colorado increased its position in Equinix by 296.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 144,596 shares of the financial services provider’s stock valued at $116,456,000 after purchasing an additional 108,099 shares during the period. Ameriprise Financial Inc. increased its position in Equinix by 27.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock valued at $313,461,000 after purchasing an additional 92,575 shares during the period. Heitman Real Estate Securities LLC increased its position in Equinix by 51.3% during the 4th quarter. Heitman Real Estate Securities LLC now owns 185,660 shares of the financial services provider’s stock valued at $149,529,000 after purchasing an additional 62,989 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in Equinix by 628.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 70,726 shares of the financial services provider’s stock valued at $56,962,000 after purchasing an additional 61,023 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Truist Financial increased their target price on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price objective on shares of Equinix in a research report on Wednesday, March 13th. Royal Bank of Canada reduced their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Finally, Barclays raised their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $872.50.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $742.86 on Wednesday. The company has a fifty day simple moving average of $755.29 and a 200 day simple moving average of $801.24. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a market cap of $70.50 billion, a P/E ratio of 74.51, a PEG ratio of 2.62 and a beta of 0.68.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

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.