Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Gradient Investments LLC

Gradient Investments LLC lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,826 shares of the financial services provider’s stock after selling 961 shares during the quarter. Gradient Investments LLC’s holdings in Equinix were worth $15,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of 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 purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its position 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 buying an additional 33,277 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares during the period. JPMorgan Chase & Co. lifted its position 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 valued at $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Equinix by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after acquiring an additional 53,729 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock opened at $940.85 on Friday. The firm has a market cap of $90.78 billion, a PE ratio of 84.84, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The business’s fifty day simple moving average is $943.64 and its 200-day simple moving average is $880.78.

Equinix Dividend Announcement

The business 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 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,549 shares of company stock valued at $18,036,455 over the last 90 days. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

EQIX has been the subject of a number of research analyst reports. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank lifted their price objective on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Evercore ISI lifted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $984.88.

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.