Wrapmanager Inc. Sells 83 Shares of Equinix, Inc. (NASDAQ:EQIX)

Wrapmanager Inc. lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 540 shares of the financial services provider’s stock after selling 83 shares during the quarter. Wrapmanager Inc.’s holdings in Equinix were worth $479,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC boosted its stake in shares of Equinix by 151.0% during the 1st quarter. Intech Investment Management LLC now owns 1,634 shares of the financial services provider’s stock worth $1,349,000 after buying an additional 983 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Equinix in the first quarter valued at approximately $237,000. Edgestream Partners L.P. increased its position in shares of Equinix by 191.8% during the 1st quarter. Edgestream Partners L.P. now owns 1,360 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 894 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Equinix by 13.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,793 shares of the financial services provider’s stock worth $5,607,000 after purchasing an additional 793 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Equinix by 159.4% in the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock valued at $1,854,000 after buying an additional 1,380 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on EQIX shares. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. BMO Capital Markets upped their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Evercore ISI upped their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $945.38.

Equinix Stock Up 1.3 %

Shares of EQIX opened at $909.48 on Tuesday. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The company has a market cap of $87.76 billion, a P/E ratio of 82.01, a P/E/G ratio of 2.25 and a beta of 0.71. 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 50 day simple moving average of $887.12 and a two-hundred day simple moving average of $820.02.

Equinix Dividend Announcement

The company 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. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.87%. Equinix’s dividend payout ratio is currently 153.65%.

Insider Buying and Selling at Equinix

In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This represents a 99.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock worth $11,666,756 over the last three months. Corporate insiders own 0.27% of the company’s stock.

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.