Jennison Associates LLC Has $24.12 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Jennison Associates LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 31.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,951 shares of the financial services provider’s stock after selling 13,576 shares during the period. Jennison Associates LLC’s holdings in Equinix were worth $24,122,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Duality Advisers LP acquired a new position in Equinix in the 4th quarter worth about $2,401,000. Cetera Trust Company N.A bought a new stake in shares of Equinix during the 4th quarter worth about $334,000. Handelsbanken Fonder AB boosted its stake in shares of Equinix by 61.5% during the 4th quarter. Handelsbanken Fonder AB now owns 34,416 shares of the financial services provider’s stock worth $27,718,000 after acquiring an additional 13,111 shares in the last quarter. CWM LLC boosted its stake in shares of Equinix by 8.3% during the 4th quarter. CWM LLC now owns 1,385 shares of the financial services provider’s stock worth $1,116,000 after acquiring an additional 106 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Equinix during the 4th quarter worth about $32,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on EQIX shares. Oppenheimer upped their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Barclays decreased their price target on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley decreased their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company increased their target price on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $862.50.

Insider Transactions at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the sale, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,585 shares of company stock valued at $3,818,268. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.7 %

Shares of EQIX opened at $756.84 on Thursday. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $828.73 and a 200-day simple moving average of $803.06. The stock has a market cap of $71.61 billion, a PE ratio of 73.41, a PEG ratio of 1.97 and a beta of 0.58.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.25%. Equinix’s payout ratio is presently 165.28%.

Equinix Company 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.