By otakuyassine3@gmail.com 
Perpetual Ltd decreased its holdings in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,450 shares of the financial services provider’s stock after selling 240 shares during the period. Perpetual Ltd’s holdings in Equinix were worth $3,253,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the period. Geode Capital Management LLC increased its holdings in shares of Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Equinix
In other news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the transaction, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the transaction, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,412 shares of company stock valued at $18,826,100. 0.27% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Truist Financial boosted their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their price objective for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. BMO Capital Markets boosted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $976.81.
Check Out Our Latest Research Report on EQIX
Equinix Trading Up 2.0 %
Shares of EQIX opened at $934.00 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a market cap of $90.12 billion, a price-to-earnings ratio of 84.22, a PEG ratio of 2.18 and a beta of 0.73. The business’s fifty day moving average is $941.69 and its 200-day moving average is $878.78.
Equinix Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.82%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.
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.
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