Nisa Investment Advisors LLC Sells 2,894 Shares of Equinix, Inc. (NASDAQ:EQIX)

Nisa Investment Advisors LLC lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 6.3% during the fourth quarter, Holdings Channel reports. The fund owned 43,361 shares of the financial services provider’s stock after selling 2,894 shares during the period. Nisa Investment Advisors LLC’s holdings in Equinix were worth $40,885,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares in the last quarter. Geode Capital Management LLC grew its position in Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after acquiring an additional 33,277 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after acquiring an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Equinix by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after purchasing an additional 53,729 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EQIX. Scotiabank increased their target price on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Evercore ISI raised their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. BMO Capital Markets boosted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $976.81.

Insider Activity at Equinix

In other news, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares in the company, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. The trade was a 9.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,412 shares of company stock valued at $18,826,100 in the last three months. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock opened at $934.00 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market cap of $90.12 billion, a price-to-earnings ratio of 84.22, a PEG ratio of 2.18 and a beta of 0.73. The business’s fifty day moving average is $941.69 and its 200 day moving average is $878.78. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid 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 1.82%. Equinix’s payout ratio is 153.65%.

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.