Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,977 shares of the financial services provider’s stock after selling 588 shares during the quarter. Pathstone Holdings LLC’s holdings in Equinix were worth $11,519,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in 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 acquiring an additional 5,910 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after acquiring an additional 47,795 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after acquiring an additional 19,844 shares during the period. Clearbridge Investments LLC increased its position in shares of Equinix by 21.5% in the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after buying an additional 159,576 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Equinix by 7.2% in the second quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock valued at $665,807,000 after buying an additional 59,343 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. The trade was a 99.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,754 shares of company stock valued at $11,666,756. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $918.94 on Thursday. The firm has a market capitalization of $88.67 billion, a P/E ratio of 82.86, a P/E/G ratio of 2.25 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The business’s 50-day simple moving average is $889.31 and its 200-day simple moving average is $822.27.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EQIX. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Scotiabank lifted their price objective on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets lifted their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $952.88.

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.