Bank of Montreal Can Cuts Holdings in Equinix, Inc. (NASDAQ:EQIX)

Bank of Montreal Can lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,574 shares of the financial services provider's stock after selling 4,975 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of Equinix worth $103,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its position in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock worth $354,111,000 after acquiring an additional 398,494 shares during the period. Swedbank AB bought a new position in Equinix in the 1st quarter worth $294,526,000. Principal Financial Group Inc. lifted its position in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider's stock valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Equinix by 104.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock valued at $238,133,000 after purchasing an additional 160,906 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Equinix by 21.5% during the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider's stock valued at $682,826,000 after purchasing an additional 159,576 shares during the period. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EQIX shares. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research report on Wednesday, August 21st. Scotiabank lifted their price target on shares of Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a report on Thursday, October 31st. Evercore ISI upped their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Finally, Mizuho upped their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a report on Thursday, September 12th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average price target of $952.88.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 864 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. This trade represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares of the company's stock, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock valued at $11,666,756 in the last ninety days. Insiders own 0.27% of the company's stock.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $9.26 on Wednesday, reaching $987.52. The company's stock had a trading volume of 44,055 shares, compared to its average volume of 531,874. The company has a 50-day simple moving average of $895.98 and a 200 day simple moving average of $829.37. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $988.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $95.29 billion, a P/E ratio of 88.21, a PEG ratio of 2.51 and a beta of 0.71.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.73%. Equinix's dividend payout ratio (DPR) is presently 153.65%.

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.