Overbrook Management Corp Sells 30 Shares of Equinix, Inc. (NASDAQ:EQIX)

Overbrook Management Corp lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 546 shares of the financial services provider’s stock after selling 30 shares during the quarter. Overbrook Management Corp’s holdings in Equinix were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in Equinix during the 1st quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix during the second quarter valued at approximately $30,000. GHP Investment Advisors Inc. lifted 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 buying an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Finally, Sugarloaf Wealth Management LLC boosted its position in shares of 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 buying an additional 20 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $918.94 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $88.67 billion, a price-to-earnings ratio of 82.86, a PEG ratio of 2.32 and a beta of 0.71. The company’s 50-day moving average is $889.31 and its two-hundred day moving average is $822.27. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.85%. Equinix’s payout ratio is 153.65%.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s 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 approximately $3,262.40. The trade was a 99.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQIX. Mizuho upped their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Wells Fargo & Company raised their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. The Goldman Sachs Group raised their target price on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Barclays raised their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday. Five equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

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.