Choreo LLC Cuts Position in Equinix, Inc. (NASDAQ:EQIX)

Choreo LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263 shares of the financial services provider’s stock after selling 45 shares during the period. Choreo LLC’s holdings in Equinix were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Blue Chip Partners LLC grew its position in Equinix by 3.4% in the 4th quarter. Blue Chip Partners LLC now owns 11,426 shares of the financial services provider’s stock valued at $9,202,000 after acquiring an additional 381 shares in the last quarter. Paradigm Financial Partners LLC increased its stake in Equinix by 5.6% during the 4th quarter. Paradigm Financial Partners LLC now owns 3,841 shares of the financial services provider’s stock worth $3,094,000 after buying an additional 204 shares during the period. PGGM Investments lifted its holdings in Equinix by 4.4% during the 4th quarter. PGGM Investments now owns 265,852 shares of the financial services provider’s stock worth $214,115,000 after buying an additional 11,300 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Equinix by 7.4% in the 4th quarter. Russell Investments Group Ltd. now owns 520,213 shares of the financial services provider’s stock valued at $419,422,000 after buying an additional 35,706 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Equinix by 106.4% in the fourth quarter. Truist Financial Corp now owns 37,603 shares of the financial services provider’s stock worth $30,285,000 after acquiring an additional 19,388 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several recent research reports. Morgan Stanley cut their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Truist Financial raised their target price on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Royal Bank of Canada boosted their price target on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. BMO Capital Markets raised their price objective on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research note on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $868.06.

Insider Transactions at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at approximately $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares in the company, valued at $1,034,548.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $700.18 on Friday. The company’s 50 day simple moving average is $807.36 and its 200-day simple moving average is $801.23. The firm has a market cap of $66.25 billion, a PE ratio of 67.91, a price-to-earnings-growth ratio of 1.80 and a beta of 0.62. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.43%. Equinix’s payout ratio is 165.28%.

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.