MetLife Investment Management LLC Reduces Stake in Equinix, Inc.

MetLife Investment Management LLC has reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 2.3% during the third quarter, as indicated in their latest 13F filing with the Securities and Exchange Commission (SEC). After selling 648 shares, the fund now holds 27,803 shares of the financial services company's stock. The value of MetLife's investments in Equinix was approximately $24,679,000 at the close of the last quarter.

Recent Investment Changes

Other hedge funds have also adjusted their stakes in Equinix recently. For instance, Thurston Springer Miller Herd & Titak Inc. established a new position valued at around $30,000 in the second quarter. Similarly, LRI Investments LLC started a new position during the first quarter, valued at about $31,000. Furthermore, GHP Investment Advisors Inc. increased its stake in Equinix by 50% in the third quarter, resulting in ownership of 39 shares worth $35,000 after acquiring an additional 13 shares. Fortitude Family Office LLC mirrored this increase, gaining ownership of 39 shares worth $35,000 after also purchasing 13 shares in the last quarter. Moreover, Meeder Asset Management Inc. initiated a new position in Equinix in the second quarter valued at roughly $36,000. Overall, institutional investors and hedge funds hold approximately 94.94% of the company's stock.

Equities Analysts' Insights

Various equities analysts have provided insights on EQIX shares. Truist Financial recently raised its price target for Equinix from $915.00 to $935.00 and assigned a "buy" rating on August 21st. Cfra confirmed a "hold" rating for the stock on September 24th. On October 31st, TD Cowen also increased their price target from $865.00 to $984.00 while maintaining a "buy" rating. Barclays updated its target price for Equinix from $810.00 to $822.00 and classified the stock as "equal weight" on November 18th. Additionally, JPMorgan Chase & Co. raised its target for Equinix from $950.00 to $975.00, maintaining an "overweight" rating on October 1st. In total, five analysts have assigned a hold rating, fourteen have given it a buy rating, and one analyst has issued a strong buy rating for the company. According to MarketBeat data, Equinix now has a consensus rating of "Moderate Buy" with an average price target of $952.88.

Insider Transactions

There have been notable insider activities at Equinix as well. EVP Scott Crenshaw sold 1,107 shares on September 6th for an average price of $815.60, totaling about $902,869.20. Following this transaction, the executive holds just 4 shares valued at $3,262.40, a significant drop of 99.64% in ownership. This transaction was reported in a legal filing with the SEC. Additionally, insider Meredith Williamson sold 576 shares on September 4th for an average price of $824.19, bringing in a total of $474,733.44. In the last quarter, insiders have sold a total of 13,754 shares worth approximately $11,666,756, and insiders own about 0.27% of the company’s stock.

Equinix Stock Performance

As of Thursday, EQIX opened at $979.10. The firm has a market capitalization of $94.47 billion, with a P/E ratio of 88.29 and a PEG ratio of 2.51. The company's debt-to-equity ratio stands at 1.12, alongside a quick ratio of 1.16 and a current ratio of 1.16. Over the past year, Equinix's stock price reached a low of $684.14 and a high of $994.03, with a 50-day moving average of $898.34 and a 200-day moving average of $830.42.

Upcoming Dividend Announcement

Additionally, Equinix recently announced that it will pay a quarterly dividend on December 11th. Shareholders of record on November 13th will receive a $4.26 dividend. The ex-dividend date is also set for November 13th, representing an annualized dividend of $17.04 and a yield of 1.74%. However, the company's payout ratio currently stands at 153.65%.

About Equinix

Equinix (NASDAQ: EQIX) is recognized as a leading digital infrastructure company globally. Businesses leverage Equinix's reliable platform to integrate essential infrastructure with unprecedented speed. This facilitates organizations in scaling quickly, launching digital services efficiently, and enhancing user experiences, while also supporting sustainability initiatives.

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