abrdn plc Acquires 5,617 Shares of Equinix, Inc. (NASDAQ:EQIX)

abrdn plc lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 259,662 shares of the financial services provider’s stock after purchasing an additional 5,617 shares during the quarter. abrdn plc’s holdings in Equinix were worth $209,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Equitable Holdings Inc. boosted its stake in shares of Equinix by 0.5% during the first quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock valued at $2,224,000 after purchasing an additional 14 shares during the period. DRW Securities LLC grew its holdings in Equinix by 2.7% in the 2nd quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 14 shares during the last quarter. Balentine LLC raised its stake in shares of Equinix by 0.8% during the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after acquiring an additional 14 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Equinix by 0.5% during the third quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock valued at $2,021,000 after acquiring an additional 15 shares during the last quarter. Finally, Legacy Advisors LLC grew its stake in shares of Equinix by 1.6% in the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 1.1 %

EQIX stock traded up $8.15 on Friday, reaching $748.00. 611,912 shares of the company traded hands, compared to its average volume of 639,252. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $70.78 billion, a P/E ratio of 72.55, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The firm has a fifty day simple moving average of $833.57 and a 200-day simple moving average of $801.57.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock valued at $3,818,268 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays dropped their price objective on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Royal Bank of Canada increased their price objective on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Finally, BMO Capital Markets increased their price objective on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $862.50.

About Equinix

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.