Fisher Asset Management LLC Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Fisher Asset Management LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 79.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 267 shares of the financial services provider’s stock after selling 1,018 shares during the quarter. Fisher Asset Management LLC’s holdings in Equinix were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after acquiring an additional 19,844 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after acquiring an additional 53,729 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Equinix by 21.5% in the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after purchasing an additional 159,576 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Equinix by 7.2% during the second quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock worth $665,807,000 after purchasing an additional 59,343 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.2 %

EQIX stock opened at $981.48 on Monday. The firm’s fifty day moving average is $902.59 and its 200 day moving average is $833.34. The firm has a market cap of $94.70 billion, a PE ratio of 88.50, a P/E/G ratio of 2.53 and a beta of 0.71. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. Equinix’s payout ratio is 153.65%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EQIX. Scotiabank boosted their target price on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Finally, Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $962.56.

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.