Bank of Hawaii Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Bank of Hawaii purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,349 shares of the financial services provider’s stock, valued at approximately $1,197,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BDF Gestion purchased a new position in shares of Equinix during the second quarter worth about $2,659,000. Van ECK Associates Corp grew its stake in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares during the last quarter. E. Ohman J or Asset Management AB increased its holdings in shares of Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Equinix by 25.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after purchasing an additional 75,888 shares during the last quarter. Finally, Raymond James & Associates grew its position in Equinix by 3.0% in the 2nd quarter. Raymond James & Associates now owns 172,904 shares of the financial services provider’s stock valued at $130,819,000 after buying an additional 5,056 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQIX. Cfra restated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Barclays increased their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Scotiabank lifted their price target on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial increased their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five 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, the company has an average rating of “Moderate Buy” and an average target price of $952.88.

Insider Buying and Selling at Equinix

In other 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 transaction of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares in the company, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,754 shares of company stock worth $11,666,756. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Equinix stock opened at $936.37 on Monday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The company has a market capitalization of $90.35 billion, a price-to-earnings ratio of 84.43, a PEG ratio of 2.41 and a beta of 0.71. The stock has a fifty day moving average of $891.74 and a two-hundred day moving average of $826.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.82%. The ex-dividend date is Wednesday, November 13th. 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.