Victory Capital Management Inc. Has $43.38 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Victory Capital Management Inc. lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,867 shares of the financial services provider’s stock after buying an additional 3,997 shares during the period. Victory Capital Management Inc. owned about 0.06% of Equinix worth $43,384,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Valley National Advisers Inc. raised its holdings in shares of Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in Equinix in the 3rd quarter worth about $29,000. Criterion Capital Advisors LLC acquired a new position in Equinix in the 4th quarter worth about $32,000. Operose Advisors LLC acquired a new position in Equinix in the 3rd quarter worth about $36,000. Finally, Asset Dedication LLC grew its position in shares of Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock opened at $700.18 on Monday. The company has a market cap of $66.25 billion, a PE ratio of 67.91, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93. The business has a 50 day moving average price of $807.36 and a 200-day moving average price of $802.13. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EQIX shares. Morgan Stanley reduced their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Oppenheimer upped their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Wells Fargo & Company upped their target price on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Finally, Truist Financial upped their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $870.44.

Insider Transactions at Equinix

In other news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the sale, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. 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 over the last ninety days. 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.