Manning & Napier Group LLC Trims Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Manning & Napier Group LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,410 shares of the financial services provider’s stock after selling 920 shares during the quarter. Manning & Napier Group LLC owned about 0.11% of Equinix worth $80,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EQIX. Providence Capital Advisors LLC acquired a new stake in Equinix during the third quarter worth about $29,000. Operose Advisors LLC acquired a new stake in Equinix during the third quarter worth about $36,000. Asset Dedication LLC increased its stake in Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 25 shares during the last quarter. Quarry LP increased its stake in Equinix by 237.5% during the first quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 38 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Equinix by 48.6% in the third quarter. UMB Bank n.a. now owns 55 shares of the financial services provider’s stock valued at $40,000 after buying an additional 18 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In other Equinix news, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the completion of the transaction, the insider now owns 14,067 shares in the company, valued at approximately $11,252,474.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix news, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the completion of the transaction, the insider now owns 14,067 shares in the company, valued at approximately $11,252,474.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares in the company, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock worth $14,788,771 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Equinix Stock Performance

NASDAQ:EQIX traded up $10.02 during midday trading on Friday, reaching $825.33. 789,170 shares of the company traded hands, compared to its average volume of 795,707. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The firm has a market capitalization of $78.09 billion, a price-to-earnings ratio of 80.05, a price-to-earnings-growth ratio of 1.95 and a beta of 0.59. 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 fifty day moving average price of $850.89 and a 200 day moving average price of $798.45.

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. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.06%. Equinix’s dividend payout ratio is currently 165.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley lowered 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. BMO Capital Markets increased their target price on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. 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. Finally, Oppenheimer raised their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $868.72.

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.