Franklin Resources Inc. Sells 84,005 Shares of Equinix, Inc. (NASDAQ:EQIX)

Franklin Resources Inc. reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 59.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,387 shares of the financial services provider’s stock after selling 84,005 shares during the period. Franklin Resources Inc. owned about 0.06% of Equinix worth $48,832,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GS Investments Inc. raised its position in Equinix by 0.5% in the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after purchasing an additional 12 shares during the period. Cypress Capital Group lifted its stake in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the last quarter. MRA Advisory Group boosted its holdings in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 13 shares during the period. GHP Investment Advisors Inc. grew its position in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC increased its stake in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by corporate insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $960.84 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50 day simple moving average of $923.43 and a two-hundred day simple moving average of $849.51. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a market capitalization of $92.71 billion, a price-to-earnings ratio of 86.64, a P/E/G ratio of 2.51 and a beta of 0.72.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EQIX. Mizuho increased their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their price target for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Evercore ISI boosted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

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.