Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 25.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 126,372 shares of the financial services provider’s stock after selling 42,036 shares during the quarter. Pacer Advisors Inc. owned approximately 0.14% of Equinix worth $99,068,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQIX. Norges Bank purchased a new position in Equinix during the fourth quarter valued at approximately $725,557,000. Morgan Stanley grew its holdings in shares of Equinix by 26.5% during the 4th quarter. Morgan Stanley now owns 854,549 shares of the financial services provider’s stock valued at $559,756,000 after acquiring an additional 179,023 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Equinix by 18.5% in the first quarter. Deutsche Bank AG now owns 1,137,155 shares of the financial services provider’s stock worth $819,934,000 after acquiring an additional 177,884 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Equinix by 21.4% during the first quarter. Bank of America Corp DE now owns 813,028 shares of the financial services provider’s stock worth $586,226,000 after acquiring an additional 143,222 shares in the last quarter. Finally, Amundi boosted its position in Equinix by 25.6% during the fourth quarter. Amundi now owns 669,881 shares of the financial services provider’s stock valued at $472,237,000 after purchasing an additional 136,567 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equinix news, CFO Keith D. Taylor sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $790.41, for a total value of $1,580,820.00. Following the sale, the chief financial officer now directly owns 20,177 shares in the company, valued at $15,948,102.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equinix news, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $790.41, for a total value of $1,580,820.00. Following the transaction, the chief financial officer now directly owns 20,177 shares in the company, valued at $15,948,102.57. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $758.00, for a total transaction of $758,000.00. Following the sale, the chief financial officer now directly owns 22,177 shares of the company’s stock, valued at approximately $16,810,166. The disclosure for this sale can be found here. Insiders sold 11,584 shares of company stock worth $8,952,535 in the last 90 days. 0.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EQIX shares. Morgan Stanley raised their price target on Equinix from $725.00 to $785.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Oppenheimer lowered Equinix from an “outperform” rating to a “market perform” rating in a report on Thursday, June 22nd. Raymond James upped their price objective on shares of Equinix from $885.00 to $910.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 3rd. Truist Financial downgraded shares of Equinix from a “buy” rating to a “hold” rating and dropped their target price for the stock from $870.00 to $815.00 in a report on Tuesday, June 27th. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their price objective on Equinix from $800.00 to $870.00 in a research note on Friday, June 16th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $814.57.

Equinix Price Performance

NASDAQ:EQIX traded down $8.72 during mid-day trading on Tuesday, hitting $760.75. The company’s stock had a trading volume of 62,474 shares, compared to its average volume of 402,290. The company has a market capitalization of $71.18 billion, a price-to-earnings ratio of 88.75, a P/E/G ratio of 1.87 and a beta of 0.65. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a fifty-two week low of $494.89 and a fifty-two week high of $821.63. The stock has a fifty day moving average of $781.86 and a 200-day moving average of $744.86.

Equinix Dividend Announcement

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 issued a $3.41 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $13.64 dividend on an annualized basis and a dividend yield of 1.79%. Equinix’s payout ratio is presently 157.32%.

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.