Vancity Investment Management Ltd lifted its stake in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,641 shares of the financial services provider's stock after purchasing an additional 135 shares during the period. Vancity Investment Management Ltd's holdings in Equinix were worth $6,053,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in Equinix by 15.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider's stock worth $509,000 after buying an additional 92 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Equinix by 5.3% during the 1st quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider's stock worth $867,000 after buying an additional 59 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Equinix by 182.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider's stock worth $195,000 after buying an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Equinix by 10.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider's stock worth $127,000 after buying an additional 16 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Equinix by 300.0% during the 1st quarter. Covestor Ltd now owns 172 shares of the financial services provider's stock worth $128,000 after buying an additional 129 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Transactions at Equinix
In other news, insider Brandi Galvin Morandi sold 663 shares of the business's stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $686.85, for a total transaction of $455,381.55. Following the sale, the insider now owns 16,552 shares of the company's stock, valued at approximately $11,368,741.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Christopher B. Paisley sold 50 shares of the business's stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $658.69, for a total transaction of $32,934.50. Following the sale, the director now owns 17,777 shares of the company's stock, valued at approximately $11,709,532.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 663 shares of the company's stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $686.85, for a total value of $455,381.55. Following the completion of the sale, the insider now directly owns 16,552 shares in the company, valued at approximately $11,368,741.20. The disclosure for this sale can be found here. Insiders have sold 16,747 shares of company stock valued at $11,803,531 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.
Equinix Stock Performance
NASDAQ EQIX traded up $1.03 on Friday, hitting $730.22. 268,459 shares of the company's stock were exchanged, compared to its average volume of 328,635. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.37 and a quick ratio of 2.37. The firm's 50-day moving average price is $684.68 and its two-hundred day moving average price is $644.30. Equinix, Inc. has a fifty-two week low of $494.89 and a fifty-two week high of $776.35. The firm has a market cap of $67.57 billion, a price-to-earnings ratio of 95.45, a P/E/G ratio of 2.79 and a beta of 0.60.
Equinix Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 16th were paid a dividend of $3.10 per share. This represents a $12.40 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Tuesday, November 15th. Equinix's dividend payout ratio (DPR) is 162.09%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on EQIX. Raymond James decreased their price target on Equinix from $950.00 to $800.00 and set a "strong-buy" rating for the company in a report on Tuesday, October 11th. BNP Paribas initiated coverage on Equinix in a research report on Wednesday, December 14th. They set an "outperform" rating and a $886.00 target price on the stock. TheStreet upgraded Equinix from a "c+" rating to a "b-" rating in a research report on Tuesday, December 13th. The Goldman Sachs Group cut their target price on Equinix from $765.00 to $670.00 and set a "buy" rating on the stock in a research report on Wednesday, October 12th. Finally, Cowen upgraded Equinix from a "market perform" rating to an "outperform" rating and set a $811.00 target price on the stock in a research report on Tuesday, December 13th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $757.33.
Equinix Company Profile
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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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