Equinix, Inc. (NASDAQ:EQIX) Shares Sold by MRA Advisory Group

MRA Advisory Group trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 383 shares of the financial services provider’s stock after selling 37 shares during the period. MRA Advisory Group’s holdings in Equinix were worth $361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its position in shares of 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 period. Fortitude Family Office LLC boosted its position in 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 acquiring an additional 13 shares during the period. Meeder Asset Management Inc. purchased a new position in Equinix during the 2nd quarter valued at about $36,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Equinix by 100.0% in the 3rd 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 during the period. Finally, Dunhill Financial LLC lifted its position in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the transaction, the insider now owns 6,505 shares of the company’s stock, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,398 shares of company stock worth $7,906,218. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $899.65 on Tuesday. The company has a market cap of $86.81 billion, a P/E ratio of 81.12, a P/E/G ratio of 2.48 and a beta of 0.73. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $941.55 and a 200 day simple moving average of $873.29.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EQIX. JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial upped their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. BMO Capital Markets lifted their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their target price on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada lifted their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

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.