Alerus Financial NA Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Alerus Financial NA decreased its position in shares of Equinix, Inc. (NASDAQ:EQIXGet Rating) by 77.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 614 shares of the financial services provider’s stock after selling 2,073 shares during the period. Alerus Financial NA’s holdings in Equinix were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EQIX. Rational Advisors LLC lifted its stake in shares of Equinix by 123.1% in the fourth quarter. Rational Advisors LLC now owns 29 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 16 shares in the last quarter. Amplius Wealth Advisors LLC bought a new stake in shares of Equinix in the fourth quarter worth $25,000. Lee Financial Co acquired a new stake in Equinix in the fourth quarter valued at $30,000. Earnest Partners LLC bought a new position in Equinix during the 4th quarter valued at $32,000. Finally, Bellevue Group AG bought a new stake in shares of Equinix in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 92.68% of the company’s stock.

A number of equities analysts recently commented on EQIX shares. Barclays decreased their price target on Equinix from $829.00 to $815.00 in a research note on Thursday, February 17th. Argus dropped their target price on shares of Equinix from $900.00 to $875.00 in a report on Monday, March 7th. TD Securities raised Equinix from a “hold” rating to a “buy” rating and lowered their target price for the company from $900.00 to $850.00 in a report on Thursday, February 17th. Wells Fargo & Company cut their price objective on shares of Equinix from $825.00 to $775.00 and set an “overweight” rating on the stock in a research report on Thursday, February 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Equinix from $860.00 to $880.00 in a report on Friday, April 29th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $852.59.

EQIX traded up $3.87 on Wednesday, reaching $675.68. 7,272 shares of the company traded hands, compared to its average volume of 462,324. The company has a market cap of $61.50 billion, a price-to-earnings ratio of 123.95, a PEG ratio of 3.00 and a beta of 0.46. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.91 and a quick ratio of 1.91. The stock’s 50 day moving average price is $716.27 and its 200-day moving average price is $742.08. Equinix, Inc. has a 52-week low of $621.34 and a 52-week high of $885.26.

Equinix (NASDAQ:EQIXGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $6.46 by ($4.84). Equinix had a return on equity of 4.57% and a net margin of 7.25%. During the same quarter last year, the company earned $6.98 earnings per share. As a group, equities research analysts forecast that Equinix, Inc. will post 25.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, May 18th will be issued a dividend of $3.10 per share. The ex-dividend date of this dividend is Tuesday, May 17th. This represents a $12.40 annualized dividend and a dividend yield of 1.84%. Equinix’s dividend payout ratio is 228.78%.

In related news, insider Brandi Galvin Morandi sold 878 shares of Equinix stock in a transaction on Friday, February 25th. The shares were sold at an average price of $701.49, for a total value of $615,908.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Camp Peter Van sold 165 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $699.20, for a total value of $115,368.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,612 shares of company stock valued at $5,982,636. 0.32% of the stock is currently owned by company insiders.

About Equinix (Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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