Covea Finance Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

Covea Finance lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 31.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,889 shares of the financial services provider’s stock after selling 6,888 shares during the quarter. Covea Finance’s holdings in Equinix were worth $11,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nordea Investment Management AB raised its position in shares of Equinix by 461.9% during the 2nd quarter. Nordea Investment Management AB now owns 32,661 shares of the financial services provider’s stock valued at $25,662,000 after buying an additional 26,848 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Equinix by 10.9% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 602 shares of the financial services provider’s stock valued at $472,000 after buying an additional 59 shares in the last quarter. Green Alpha Advisors LLC raised its position in Equinix by 6.0% in the 2nd quarter. Green Alpha Advisors LLC now owns 2,708 shares of the financial services provider’s stock worth $2,123,000 after purchasing an additional 154 shares during the period. DnB Asset Management AS raised its position in Equinix by 2.4% in the 2nd quarter. DnB Asset Management AS now owns 24,831 shares of the financial services provider’s stock worth $19,466,000 after purchasing an additional 574 shares during the period. Finally, Cedar Brook Financial Partners LLC raised its position in Equinix by 3.1% in the 2nd quarter. Cedar Brook Financial Partners LLC now owns 530 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Equinix Trading Down 0.3 %

Shares of EQIX traded down $2.17 during trading hours on Friday, reaching $780.00. 131,498 shares of the company traded hands, compared to its average volume of 402,339. The company’s fifty day moving average price is $781.77 and its two-hundred day moving average price is $743.14. The company has a market capitalization of $72.98 billion, a price-to-earnings ratio of 90.22, a price-to-earnings-growth ratio of 1.85 and a beta of 0.65. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 12 month low of $494.89 and a 12 month high of $821.63.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be paid a dividend of $3.41 per share. This represents a $13.64 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, August 22nd. Equinix’s payout ratio is 157.32%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EQIX. Stifel Nicolaus lifted their target price on shares of Equinix from $835.00 to $870.00 in a research report on Thursday, June 22nd. UBS Group lifted their target price on shares of Equinix from $765.00 to $900.00 in a research report on Thursday, June 22nd. Barclays lifted their target price on shares of Equinix from $700.00 to $720.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. BMO Capital Markets lifted their target price on shares of Equinix from $800.00 to $870.00 in a research report on Friday, June 16th. Finally, StockNews.com started coverage on shares of Equinix in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $814.57.

Insider Activity

In related news, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $758.00, for a total transaction of $758,000.00. Following the sale, the chief financial officer now owns 22,177 shares of the company’s stock, valued at $16,810,166. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $758.00, for a total transaction of $758,000.00. Following the sale, the chief financial officer now owns 22,177 shares of the company’s stock, valued at $16,810,166. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles J. Meyers sold 7,439 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $770.60, for a total transaction of $5,732,493.40. Following the sale, the chief executive officer now directly owns 7,642 shares in the company, valued at approximately $5,888,925.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,584 shares of company stock valued at $8,952,535. Corporate insiders own 0.32% 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.