Amundi Divests Shares of Equinix, Inc.

Amundi has reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6.6% during the fourth quarter, according to a recent Form 13F filed with the Securities and Exchange Commission (SEC). After the sale of 62,239 shares, Amundi now owns 878,620 shares of the financial services provider, which represents approximately 0.91% of the company with a market value of $835,044,000.

Changes in Institutional Holdings

Several institutional investors have also recently adjusted their stakes in Equinix. UBS Asset Management Americas LLC increased its holdings in Equinix by 302.7% during the third quarter, acquiring an additional 813,666 shares to bring their total to 1,082,455 shares valued at $960,820,000. Meanwhile, Raymond James Financial Inc. entered a new position in Equinix during the fourth quarter, with a stake valued at around $328,899,000. Furthermore, Adelante Capital Management LLC expanded its position in Equinix by 202.3% in the third quarter, now holding 514,224 shares worth $456,441,000 after adding 344,114 shares last quarter. Proficio Capital Partners LLC also established a new position during the fourth quarter, worth approximately $246,000. Additionally, JPMorgan Chase & Co. increased its stake in the company by 17.9% during the third quarter, now controlling 1,338,597 shares valued at $1,188,180,000. Altogether, institutional investors hold 94.94% of Equinix's stock.

Market Analysts' Insights

Several brokerages have recently provided updates on Equinix. The Royal Bank of Canada raised its price target for Equinix from $936.00 to $1,025.00 and assigned the stock an "outperform" rating. Barclays also increased its price target from $810.00 to $822.00, rating it "equal weight." Moffett Nathanson upgraded Equinix from a "hold" to a "strong-buy" and Scotiabank raised its price objective from $1,033.00 to $1,040.00, giving it a "sector outperform" rating. Lastly, Oppenheimer adjusted its price target from $950.00 to $975.00 while maintaining an "outperform" rating. Currently, three analysts have rated Equinix with a hold rating, fifteen have given it a buy rating, and three have assigned a strong buy rating, leading to an average rating of "Buy" and a target price of $995.24 according to MarketBeat data.

Insider Trading Activity

In related news, insider Kurt Pletcher sold 341 shares of Equinix on January 16th at an average price of $903.72, totaling $308,168.52. This transaction reduced Pletcher's holdings to 1,430 shares valued at around $1,292,319.60. Another insider, Brandi Galvin Morandi, sold 684 shares on February 20th at an average price of $940.51, amounting to $643,308.84, resulting in a 7.55% decrease in her position. Over the past 90 days, insiders have sold a total of 19,054 shares valued at approximately $17,466,950, with corporate insiders owning 0.27% of the stock.

Equinix Stock Performance

As for stock performance, EQIX opened at $859.52 on the last trading day. The company has a current ratio of 1.63, a quick ratio of 1.63, and a debt-to-equity ratio of 1.19. The twelve-month low for Equinix stock was $684.14, and the high was $994.03. Its 50-day and 200-day moving averages stand at $923.05 and $906.88, respectively, with a market capitalization of $83.66 billion. The company has a price-to-earnings ratio of 100.53 and a price-to-earnings growth ratio of 1.78, with a beta of 0.74.

Upcoming Dividend Increase

Equinix has also announced an upcoming quarterly dividend, which is set to be paid on March 19th. Shareholders who are on record by February 26th will receive a dividend of $4.69, up from the previous $4.26. This translates to an annualized dividend of $18.76, yielding 2.18%, though the dividend payout ratio stands at 219.42%.

About Equinix

Equinix is recognized as a leading digital infrastructure company, offering a trusted platform that enables digital leaders to connect and expand their operations swiftly and efficiently.

Amundi, Equinix, Shares