Sumitomo Mitsui Trust Holdings Inc. Sells 3,611 Shares of Equinix, Inc. (NASDAQ:EQIX)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 448,990 shares of the financial services provider’s stock after selling 3,611 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.47% of Equinix worth $370,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EQIX. Mutual Advisors LLC grew its holdings in Equinix by 6.0% during the third quarter. Mutual Advisors LLC now owns 353 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 20 shares during the period. Ancora Advisors LLC boosted its holdings in shares of Equinix by 12.5% in the third quarter. Ancora Advisors LLC now owns 369 shares of the financial services provider’s stock valued at $268,000 after buying an additional 41 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Equinix in the third quarter valued at approximately $3,250,000. AQR Capital Management LLC boosted its holdings in shares of Equinix by 4.6% in the third quarter. AQR Capital Management LLC now owns 24,697 shares of the financial services provider’s stock valued at $17,937,000 after buying an additional 1,095 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of Equinix by 44.6% in the third quarter. Truist Financial Corp now owns 18,215 shares of the financial services provider’s stock valued at $13,229,000 after buying an additional 5,620 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Equinix in a report on Monday. They issued a “buy” rating and a $870.00 price target for the company. TD Cowen cut their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Truist Financial boosted their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Oppenheimer boosted their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $872.33.

Equinix Trading Down 0.5 %

Equinix stock traded down $3.86 during mid-day trading on Wednesday, hitting $752.52. 57,276 shares of the stock were exchanged, compared to its average volume of 593,298. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $71.42 billion, a price-to-earnings ratio of 75.87, a PEG ratio of 2.63 and a beta of 0.68. The firm’s fifty day simple moving average is $755.95 and its two-hundred day simple moving average is $799.79. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Tuesday, May 21st. Equinix’s payout ratio is 170.91%.

Equinix Company 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.