Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Dark Forest Capital Management LP

Dark Forest Capital Management LP cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 53.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 432 shares of the financial services provider’s stock after selling 504 shares during the period. Dark Forest Capital Management LP’s holdings in Equinix were worth $407,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Inspire Trust Co. N.A. grew its position in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 11 shares during the period. Legacy Financial Advisors Inc. increased its holdings in Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after buying an additional 11 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Equinix by 1.8% in the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 12 shares in the last quarter. Finally, Great Lakes Retirement Inc. increased its position in shares of Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Citigroup lowered their price target on Equinix from $1,020.00 to $970.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Mizuho lowered their target price on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Wells Fargo & Company decreased their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Oppenheimer upped their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $1,004.94.

Equinix Stock Performance

Shares of Equinix stock opened at $838.10 on Monday. The firm has a market capitalization of $81.98 billion, a P/E ratio of 98.02, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The firm’s 50 day moving average is $835.22 and its two-hundred day moving average is $895.32.

Equinix (NASDAQ:EQIX) last announced its earnings results 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 forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. 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 dividend payout ratio is presently 219.42%.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the transaction, the insider now owns 1,245 shares in the company, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,040 shares of company stock valued at $6,547,068 over the last quarter. 0.27% of the stock is currently owned by insiders.

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.