Great West Life Assurance Co. Can lessened its holdings in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,684 shares of the financial services provider’s stock after selling 14,886 shares during the quarter. Great West Life Assurance Co. Can owned 0.18% of Equinix worth $134,203,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in EQIX. Venturi Wealth Management LLC acquired a new stake in Equinix in the first quarter worth about $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Equinix by 65.2% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 38 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 15 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Equinix by 485.7% in the second quarter. Larson Financial Group LLC now owns 41 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. Quarry LP boosted its holdings in Equinix by 237.5% in the first quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 38 shares in the last quarter. Finally, Fortis Capital Advisors LLC acquired a new stake in Equinix in the fourth quarter worth about $45,000. Institutional investors and hedge funds own 93.16% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Equinix from $825.00 to $900.00 in a research note on Friday, August 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $780.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Barclays raised their price objective on Equinix from $700.00 to $720.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. Scotiabank assumed coverage on Equinix in a research note on Friday, October 13th. They issued a “sector outperform” rating and a $856.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on Equinix from $810.00 to $740.00 and set an “equal weight” rating for the company in a research note on Thursday, October 26th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $824.10.
Equinix Price Performance
Shares of Equinix stock traded down $5.73 on Friday, reaching $774.64. The company’s stock had a trading volume of 357,048 shares, compared to its average volume of 398,589. The company has a market capitalization of $72.72 billion, a P/E ratio of 83.29, a PEG ratio of 1.52 and a beta of 0.62. Equinix, Inc. has a 52-week low of $639.43 and a 52-week high of $821.63. The stock has a 50-day moving average price of $741.33 and a 200-day moving average price of $756.62. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.32.
Equinix Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be given a $4.26 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from Equinix’s previous quarterly dividend of $3.41. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.20%. Equinix’s payout ratio is 183.23%.
In other news, insider Brandi Galvin Morandi sold 3,788 shares of Equinix stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $714.74, for a total value of $2,707,435.12. Following the sale, the insider now directly owns 11,495 shares of the company’s stock, valued at $8,215,936.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $776.26, for a total value of $776,260.00. Following the sale, the chief financial officer now directly owns 19,177 shares of the company’s stock, valued at $14,886,338.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 3,788 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $714.74, for a total value of $2,707,435.12. Following the transaction, the insider now directly owns 11,495 shares in the company, valued at approximately $8,215,936.30. The disclosure for this sale can be found here. Insiders sold 7,622 shares of company stock worth $5,705,011 over the last three months. 0.32% of the stock is currently owned by corporate insiders.
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.
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