Glenmede Trust Co. NA Sells 3,925 Shares of Equinix, Inc. (NASDAQ:EQIX)

Glenmede Trust Co. NA lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,396 shares of the financial services provider’s stock after selling 3,925 shares during the quarter. Glenmede Trust Co. NA’s holdings in Equinix were worth $18,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Townsquare Capital LLC grew its position in Equinix by 47.4% during the third quarter. Townsquare Capital LLC now owns 1,943 shares of the financial services provider’s stock worth $1,725,000 after buying an additional 625 shares in the last quarter. Thematics Asset Management raised its stake in Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after purchasing an additional 6,000 shares in the last quarter. Avestar Capital LLC lifted its position in Equinix by 13.0% during the third quarter. Avestar Capital LLC now owns 921 shares of the financial services provider’s stock worth $818,000 after purchasing an additional 106 shares during the period. Brooklyn Investment Group grew its stake in Equinix by 3.6% during the third quarter. Brooklyn Investment Group now owns 612 shares of the financial services provider’s stock worth $543,000 after buying an additional 21 shares in the last quarter. Finally, Partners Group Holding AG grew its stake in Equinix by 20.8% during the third quarter. Partners Group Holding AG now owns 54,122 shares of the financial services provider’s stock worth $48,040,000 after buying an additional 9,312 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Mizuho boosted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Scotiabank lifted their target price on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Finally, Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Insider Transactions at Equinix

In other news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. This trade represents a 99.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,754 shares of company stock worth $11,666,756. Company insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.1 %

Shares of EQIX stock opened at $979.10 on Friday. 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 stock has a market cap of $94.47 billion, a price-to-earnings ratio of 88.29, a PEG ratio of 2.51 and a beta of 0.71. The stock has a 50-day moving average of $900.50 and a 200-day moving average of $831.45.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued 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 1.74%. Equinix’s payout ratio is 153.65%.

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.