Cibc World Market Inc. Grows Holdings in Equinix, Inc. (NASDAQ:EQIX)

Cibc World Market Inc. increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,533 shares of the financial services provider’s stock after buying an additional 1,277 shares during the period. Cibc World Market Inc.’s holdings in Equinix were worth $21,246,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its stake in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Sugarloaf Wealth Management LLC grew its position in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Dunhill Financial LLC increased its stake in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Finally, Webster Bank N. A. lifted its position in shares of Equinix by 112.5% during the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EQIX. TD Cowen upped their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank increased their price target on Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a research report on Thursday, January 23rd. Finally, Evercore ISI lifted their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $997.53.

Equinix Price Performance

EQIX stock opened at $913.66 on Friday. The business has a 50 day simple moving average of $943.72 and a 200-day simple moving average of $885.47. The company has a market capitalization of $88.16 billion, a P/E ratio of 82.39, a PEG ratio of 2.16 and a beta of 0.73. Equinix, Inc. has a twelve month low of $684.14 and a twelve month 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.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction 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. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,823 shares of company stock valued at $16,474,442. Insiders own 0.27% of the company’s stock.

About Equinix

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.