Lateef Investment Management L.P. bought a new stake in Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 41,780 shares of the financial services provider’s stock, valued at approximately $18,936,000. Equinix accounts for about 1.8% of Lateef Investment Management L.P.’s investment portfolio, making the stock its 25th biggest holding. Lateef Investment Management L.P. owned approximately 0.05% of Equinix as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. raised its holdings in shares of Equinix by 191.5% in the 4th quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 157 shares during the period. Zions Bancorporation raised its holdings in Equinix by 2,550.0% in the 3rd quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 255 shares during the period. SeaCrest Wealth Management LLC bought a new position in Equinix in the 4th quarter valued at about $121,000. Truewealth LLC bought a new position in Equinix in the 4th quarter valued at about $137,000. Finally, Amica Retiree Medical Trust bought a new position in Equinix in the 3rd quarter valued at about $188,000. 96.13% of the stock is currently owned by institutional investors.
Equinix, Inc. (EQIX) opened at $395.16 on Monday. Equinix, Inc. has a fifty-two week low of $370.79 and a fifty-two week high of $495.35. The company has a market cap of $31,307.77, a P/E ratio of 132.16, a PEG ratio of 1.20 and a beta of 0.56. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.45.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Monday, February 26th will be issued a dividend of $2.28 per share. The ex-dividend date is Friday, February 23rd. This is a boost from Equinix’s previous quarterly dividend of $2.00. This represents a $9.12 annualized dividend and a dividend yield of 2.31%. Equinix’s dividend payout ratio (DPR) is currently 305.02%.
Several research analysts have weighed in on the stock. Credit Suisse Group reissued a “buy” rating and issued a $519.00 price target on shares of Equinix in a report on Sunday, February 25th. Zacks Investment Research cut shares of Equinix from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Barclays reissued a “buy” rating and issued a $500.00 price target on shares of Equinix in a report on Friday, February 16th. Guggenheim set a $515.00 price target on shares of Equinix and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, Wells Fargo & Co lowered their price target on shares of Equinix from $510.00 to $485.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the stock. Equinix currently has a consensus rating of “Buy” and a consensus price target of $499.00.
In related news, Director Irving F. Lyons III sold 5,296 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $390.41, for a total transaction of $2,067,611.36. Following the sale, the director now owns 24,788 shares in the company, valued at approximately $9,677,483.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $457.84, for a total transaction of $686,760.00. Following the sale, the chief financial officer now owns 26,196 shares in the company, valued at approximately $11,993,576.64. The disclosure for this sale can be found here. Insiders have sold 36,482 shares of company stock worth $15,507,697 over the last ninety days. Insiders own 0.58% of the company’s stock.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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