Equinix, Inc. $EQIX Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 31.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,953 shares of the financial services provider’s stock after selling 1,348 shares during the period. Community Trust & Investment Co.’s holdings in Equinix were worth $3,078,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Equinix in the 4th quarter worth about $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock valued at $929,312,000 after acquiring an additional 953,001 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after acquiring an additional 493,141 shares during the period. Deutsche Bank AG lifted its holdings in shares of Equinix by 30.0% during the 4th quarter. Deutsche Bank AG now owns 1,094,808 shares of the financial services provider’s stock worth $838,798,000 after acquiring an additional 252,964 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Equinix by 709.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 286,288 shares of the financial services provider’s stock worth $219,342,000 after acquiring an additional 250,914 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen raised shares of Equinix from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $1,340.00 price target on shares of Equinix in a report on Thursday, July 30th. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings downgraded Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Finally, UBS Group increased their target price on Equinix from $1,210.00 to $1,265.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $1,196.20.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares in the company, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the completion of the transaction, the insider directly owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,891 shares of company stock valued at $10,430,452. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX opened at $1,042.62 on Friday. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68. The company has a 50 day moving average of $1,050.68 and a two-hundred day moving average of $1,003.71. The company has a market cap of $102.88 billion, a P/E ratio of 67.14, a P/E/G ratio of 1.50 and a beta of 0.99. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Equinix’s dividend payout ratio is 132.90%.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.