Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,577 shares of the financial services provider’s stock after selling 500 shares during the period. Everence Capital Management Inc.’s holdings in Equinix were worth $3,686,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Sequoia Financial Advisors LLC lifted its stake in shares of Equinix by 15.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 92 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Equinix by 5.3% in the 1st quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider’s stock valued at $867,000 after purchasing an additional 59 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Equinix by 182.8% in the 1st quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Equinix by 10.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 16 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Equinix by 300.0% in the 1st quarter. Covestor Ltd now owns 172 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 129 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Equinix

In related news, EVP Jonathan Lin sold 624 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $809.66, for a total value of $505,227.84. Following the completion of the sale, the executive vice president now directly owns 5,671 shares of the company’s stock, valued at approximately $4,591,581.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Equinix news, EVP Jonathan Lin sold 624 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $809.66, for a total transaction of $505,227.84. Following the completion of the sale, the executive vice president now directly owns 5,671 shares of the company’s stock, valued at approximately $4,591,581.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock valued at $14,788,771 in the last three months. 0.32% of the stock is currently owned by company insiders.

Equinix Stock Down 0.3 %

Shares of EQIX traded down $1.97 during mid-day trading on Tuesday, reaching $742.14. The company’s stock had a trading volume of 579,116 shares, compared to its average volume of 558,373. The stock has a market cap of $70.22 billion, a PE ratio of 72.17, a price-to-earnings-growth ratio of 1.82 and a beta of 0.58. 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 12-month low of $672.88 and a 12-month high of $914.93. The company’s 50 day moving average is $842.19 and its 200 day moving average is $802.12.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.30%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent analyst reports. HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a research note on Wednesday, March 20th. Barclays cut their price objective on Equinix from $788.00 to $781.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Wells Fargo & Company boosted their price objective on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Oppenheimer boosted their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada boosted their price objective on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $868.72.

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.