Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,881 shares of the financial services provider’s stock after selling 98 shares during the period. Sumitomo Life Insurance Co.’s holdings in Equinix were worth $1,515,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EQIX. Valley National Advisers Inc. boosted its stake in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares during the period. Providence Capital Advisors LLC purchased a new position in shares of Equinix in the third quarter valued at approximately $29,000. Operose Advisors LLC purchased a new position in shares of Equinix in the third quarter valued at approximately $36,000. Asset Dedication LLC boosted its stake in shares of Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 25 shares during the period. Finally, Quarry LP boosted its stake in shares of Equinix by 237.5% in the first quarter. Quarry LP now owns 54 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 38 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on EQIX. Stifel Nicolaus reissued a “buy” rating and issued a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target for the company. in a research note on Wednesday, March 20th. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Oppenheimer lifted their price target on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada lifted their price target on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $868.72.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Charles J. Meyers sold 7,174 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $800.18, for a total value of $5,740,491.32. Following the transaction, the chief executive officer now directly owns 16,360 shares of the company’s stock, valued at approximately $13,090,944.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Equinix news, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the sale, the insider now directly owns 14,067 shares in the company, valued at approximately $11,252,474.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles J. Meyers sold 7,174 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $800.18, for a total transaction of $5,740,491.32. Following the sale, the chief executive officer now owns 16,360 shares in the company, valued at $13,090,944.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,282 shares of company stock valued at $14,788,771. 0.32% of the stock is owned by company insiders.

Equinix Stock Performance

Shares of Equinix stock opened at $764.05 on Monday. The firm’s fifty day simple moving average is $844.04 and its 200-day simple moving average is $801.95. The stock has a market capitalization of $72.29 billion, a price-to-earnings ratio of 74.11, a PEG ratio of 1.82 and a beta of 0.58. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.23%. Equinix’s dividend payout ratio is currently 165.28%.

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.