Bank of Hawaii Sells 1,072 Shares of Equinix, Inc. (NASDAQ:EQIX)

Bank of Hawaii decreased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 79.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 277 shares of the financial services provider's stock after selling 1,072 shares during the period. Bank of Hawaii's holdings in Equinix were worth $261,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Scotia Capital Inc. lifted its position in Equinix by 22.9% during the fourth quarter. Scotia Capital Inc. now owns 467 shares of the financial services provider's stock valued at $440,000 after buying an additional 87 shares during the period. Phoenix Financial Ltd. increased its stake in shares of Equinix by 2.6% in the 4th quarter. Phoenix Financial Ltd. now owns 637 shares of the financial services provider's stock worth $601,000 after acquiring an additional 16 shares in the last quarter. Bessemer Group Inc. increased its position in Equinix by 17.5% during the fourth quarter. Bessemer Group Inc. now owns 2,916 shares of the financial services provider's stock valued at $2,750,000 after acquiring an additional 434 shares during the last quarter. CenterBook Partners LP raised its position in Equinix by 148.3% in the fourth quarter. CenterBook Partners LP now owns 3,461 shares of the financial services provider's stock worth $3,263,000 after acquiring an additional 2,067 shares during the period. Finally, Waddell & Associates LLC grew its position in shares of Equinix by 14.6% during the fourth quarter. Waddell & Associates LLC now owns 454 shares of the financial services provider's stock worth $428,000 after purchasing an additional 58 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares of the company's stock, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at $3,937,268.79. The trade was a 24.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,054 shares of company stock worth $17,466,950. Insiders own 0.27% of the company's stock.

Equinix Stock Up 0.5 %

EQIX stock traded up $3.62 during midday trading on Tuesday, reaching $787.49. The company had a trading volume of 352,265 shares, compared to its average volume of 554,332. The company has a 50 day moving average of $860.01 and a two-hundred day moving average of $900.38. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a market capitalization of $76.65 billion, a P/E ratio of 92.10, a PEG ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.38%. Equinix's payout ratio is 219.42%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EQIX. Wells Fargo & Company cut their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a report on Thursday, March 27th. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, Truist Financial reduced their price objective on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $1,007.59.

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.