Independence Bank of Kentucky Increases Holdings in Equinix, Inc. (NASDAQ:EQIX)

Independence Bank of Kentucky raised its stake in shares of Equinix, Inc. (NASDAQ:EQIXFree Report) by 95.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129 shares of the financial services provider’s stock after buying an additional 63 shares during the quarter. Independence Bank of Kentucky’s holdings in Equinix were worth $104,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Equinix by 0.3% during the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after buying an additional 34,926 shares during the last quarter. State Street Corp raised its stake in Equinix by 1.4% during the second quarter. State Street Corp now owns 6,118,844 shares of the financial services provider’s stock valued at $4,796,807,000 after buying an additional 85,286 shares during the last quarter. Geode Capital Management LLC raised its stake in Equinix by 1.2% during the first quarter. Geode Capital Management LLC now owns 2,004,008 shares of the financial services provider’s stock valued at $1,441,837,000 after buying an additional 23,150 shares during the last quarter. Principal Financial Group Inc. raised its stake in Equinix by 44.6% during the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after buying an additional 431,435 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Equinix by 1.7% during the third quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock valued at $862,790,000 after buying an additional 20,241 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the sale, the executive vice president now owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the sale, the executive vice president now owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $799.92, for a total value of $1,759,024.08. Following the sale, the insider now directly owns 14,067 shares of the company’s stock, valued at approximately $11,252,474.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,282 shares of company stock valued at $14,788,771. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EQIX. Oppenheimer lifted their target price on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Morgan Stanley reduced their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. BMO Capital Markets lifted their target price on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Barclays reduced their target price on Equinix from $788.00 to $781.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Finally, HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, seven 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 a consensus rating of “Moderate Buy” and a consensus target price of $868.72.

Read Our Latest Analysis on EQIX

Equinix Stock Performance

Shares of EQIX opened at $788.91 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The firm has a market capitalization of $74.65 billion, a P/E ratio of 76.52, a PEG ratio of 1.91 and a beta of 0.58. The business has a fifty day moving average of $851.18 and a 200 day moving average of $799.44.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Tuesday, February 27th. Equinix’s payout ratio is currently 165.28%.

About Equinix

(Free Report)

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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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