Bridgewater Associates LP Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Bridgewater Associates LP cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 56.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 606 shares of the financial services provider’s stock after selling 771 shares during the quarter. Bridgewater Associates LP’s holdings in Equinix were worth $538,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter worth $30,000. GHP Investment Advisors Inc. grew its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC grew its position in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Equinix in the 2nd quarter worth about $36,000. Finally, Sugarloaf Wealth Management LLC lifted its position in Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 1.7 %

EQIX opened at $964.84 on Tuesday. The stock has a market cap of $93.10 billion, a price-to-earnings ratio of 87.00, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s fifty day moving average is $902.59 and its 200 day moving average is $833.34. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EQIX shares. Truist Financial lifted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Scotiabank lifted their price target on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Barclays increased their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Finally, Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. 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 company. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $962.56.

Equinix Company 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.