Cornerstone Advisors LLC Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Cornerstone Advisors LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIXFree Report) by 25.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,200 shares of the financial services provider’s stock after selling 1,100 shares during the period. Cornerstone Advisors LLC’s holdings in Equinix were worth $2,577,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Valley National Advisers Inc. lifted its stake in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares during the period. Providence Capital Advisors LLC bought a new stake in Equinix during the 3rd quarter worth approximately $29,000. Criterion Capital Advisors LLC purchased a new position in shares of Equinix during the 4th quarter valued at $32,000. Operose Advisors LLC purchased a new position in shares of Equinix in the third quarter valued at about $36,000. Finally, Asset Dedication LLC boosted its stake in Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Oppenheimer raised their target price on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. TD Cowen reduced their target price on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a report on Friday, May 10th. BMO Capital Markets increased their price target on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Wells Fargo & Company lifted their price objective on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Finally, HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $874.44.

Read Our Latest Research Report on Equinix

Equinix Stock Down 0.6 %

Shares of NASDAQ EQIX opened at $795.28 on Tuesday. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93. The firm has a 50-day simple moving average of $778.20 and a two-hundred day simple moving average of $805.84. The company has a market cap of $75.48 billion, a P/E ratio of 79.77, a PEG ratio of 2.68 and a beta of 0.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s dividend payout ratio is currently 170.91%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the sale, the insider now owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Equinix Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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