Overbrook Management Corp cut its position in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 446 shares of the financial services provider’s stock after selling 100 shares during the period. Overbrook Management Corp’s holdings in Equinix were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of EQIX. GHP Investment Advisors Inc. increased its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its position 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 acquiring an additional 13 shares in the last quarter. 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 acquiring an additional 20 shares during the last quarter. Dunhill Financial LLC raised its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. Finally, Webster Bank N. A. lifted its stake in Equinix by 112.5% during the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 27 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have weighed in on EQIX shares. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Barclays lifted their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Stifel Nicolaus upped their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group upped their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $976.81.
Equinix Price Performance
Shares of NASDAQ:EQIX opened at $915.59 on Monday. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a 50-day moving average price of $941.64 and a 200 day moving average price of $876.70. The company has a market cap of $88.35 billion, a P/E ratio of 82.56, a PEG ratio of 2.12 and a beta of 0.73. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.
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 issued a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. Equinix’s dividend payout ratio is currently 153.65%.
Insider Activity at Equinix
In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,412 shares of company stock worth $18,826,100 over the last three months. 0.27% of the stock is currently owned by corporate insiders.
Equinix Profile
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.
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