Flputnam Investment Management Co. Sells 527 Shares of Equinix, Inc. (NASDAQ:EQIX)

Flputnam Investment Management Co. reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 11.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,036 shares of the financial services provider’s stock after selling 527 shares during the period. Flputnam Investment Management Co.’s holdings in Equinix were worth $3,251,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the transaction, the chief financial officer now owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,585 shares of company stock valued at $3,818,268. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EQIX. Morgan Stanley dropped their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. BMO Capital Markets boosted their price target on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Royal Bank of Canada boosted their price target on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. HSBC downgraded 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. Finally, Barclays dropped their price target on Equinix from $788.00 to $781.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $868.72.

Equinix Stock Performance

NASDAQ EQIX opened at $742.14 on Wednesday. The stock has a market capitalization of $70.22 billion, a price-to-earnings ratio of 71.98, a PEG ratio of 1.78 and a beta of 0.58. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $840.28 and a 200 day moving average of $802.23.

Equinix Dividend Announcement

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

About Equinix

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.