Fmr LLC Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Fmr LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,183,814 shares of the financial services provider’s stock after selling 87,284 shares during the period. Fmr LLC owned approximately 2.26% of Equinix worth $1,938,419,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Equinix in the 1st quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix in the second quarter worth $30,000. GHP Investment Advisors Inc. grew its position in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

EQIX opened at $978.26 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $94.39 billion, a PE ratio of 88.21, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71. The stock’s 50 day moving average price is $895.98 and its 200-day moving average price is $829.37. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $982.69.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Scotiabank lifted their price target on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. BMO Capital Markets boosted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, TD Cowen increased their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $952.88.

Insiders Place Their Bets

In related news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. The trade was a 99.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently owned by corporate insiders.

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.