Trust Point Inc. Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Trust Point Inc. raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 17.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 371 shares of the financial services provider’s stock after purchasing an additional 56 shares during the period. Trust Point Inc.’s holdings in Equinix were worth $350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Equinix by 9.2% in the third 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 in the last quarter. Brookfield Corp ON lifted its holdings in shares of Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB lifted 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 in the last quarter. Thematics Asset Management lifted its holdings in shares of Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Equinix by 46.1% in the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock valued at $278,712,000 after buying an additional 92,975 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. TD Cowen boosted their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Scotiabank boosted their price objective on shares of Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a research report on Thursday, January 23rd. Evercore ISI boosted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial boosted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus price target of $996.06.

Equinix Price Performance

Equinix stock opened at $936.50 on Thursday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a fifty day moving average of $941.00 and a 200-day moving average of $889.14. The firm has a market capitalization of $90.36 billion, a P/E ratio of 84.45, a PEG ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,823 shares of company stock valued at $16,474,442 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.