Equinix, Inc. (NASDAQ:EQIX) Shares Sold by StrongBox Wealth LLC

StrongBox Wealth LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 36.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,470 shares of the financial services provider’s stock after selling 832 shares during the quarter. StrongBox Wealth LLC’s holdings in Equinix were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC boosted its holdings in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. boosted its holdings in Equinix by 0.3% in 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 purchasing an additional 5,910 shares during the period. JPMorgan Chase & Co. boosted its holdings in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after purchasing an additional 53,729 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on EQIX shares. Wells Fargo & Company lifted their price objective on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. The Goldman Sachs Group lifted their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank raised their target price 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, Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Three equities 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 company. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $976.81.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated 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 sale, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $900.01 on Thursday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm’s 50-day simple moving average is $941.33 and its 200 day simple moving average is $874.29. 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 $86.84 billion, a P/E ratio of 81.16, a P/E/G ratio of 2.12 and a beta of 0.73.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.89%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 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.