Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 61.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,773 shares of the financial services provider’s stock after selling 4,417 shares during the period. Intech Investment Management LLC’s holdings in Equinix were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Equinix by 200.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 149,274 shares of the financial services provider’s stock worth $132,500,000 after acquiring an additional 99,577 shares during the period. Cornerstone Advisors LLC grew its stake in shares of Equinix by 51.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 4,100 shares of the financial services provider’s stock worth $3,639,000 after purchasing an additional 1,400 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Equinix in the 3rd quarter worth approximately $239,000. Altman Advisors Inc. acquired a new stake in Equinix during the third quarter valued at approximately $1,718,000. Finally, Grandfield & Dodd LLC bought a new stake in Equinix during the third quarter worth approximately $233,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This represents a 9.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock worth $11,666,756 in the last 90 days. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EQIX shares. Evercore ISI upped their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Scotiabank upped their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $952.88.

Equinix Stock Up 1.4 %

Shares of Equinix stock opened at $936.37 on Monday. The stock has a 50-day simple moving average of $891.74 and a 200-day simple moving average of $826.40. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The firm has a market cap of $90.35 billion, a price-to-earnings ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend 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.