Comgest Global Investors S.A.S. Sells 1,911 Shares of Equinix, Inc. (NASDAQ:EQIX)

Comgest Global Investors S.A.S. lessened its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 39.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,932 shares of the financial services provider's stock after selling 1,911 shares during the quarter. Comgest Global Investors S.A.S.'s holdings in Equinix were worth $2,603,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Santander S.A. increased its holdings in shares of Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider's stock valued at $577,000 after purchasing an additional 14 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Equinix by 3.1% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 632 shares of the financial services provider's stock valued at $521,000 after buying an additional 19 shares during the last quarter. Intech Investment Management LLC grew its stake in Equinix by 151.0% in the 1st quarter. Intech Investment Management LLC now owns 1,634 shares of the financial services provider's stock valued at $1,349,000 after buying an additional 983 shares during the last quarter. TIAA Trust National Association grew its position in shares of Equinix by 13.5% in the first quarter. TIAA Trust National Association now owns 4,817 shares of the financial services provider's stock valued at $3,976,000 after purchasing an additional 574 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Equinix during the first quarter worth approximately $237,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of recent research reports. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. The Goldman Sachs Group increased their target price on Equinix from $870.00 to $980.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. HSBC upgraded shares of Equinix from a "hold" rating to a "buy" rating and lifted their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Truist Financial lifted their price target on shares of Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Finally, Mizuho lifted their price target on shares of Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $944.63.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. This represents a 8.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares of the company's stock, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,654 shares of company stock worth $11,577,656. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.1 %

Shares of EQIX stock traded down $0.75 during mid-day trading on Friday, hitting $897.37. The company's stock had a trading volume of 368,707 shares, compared to its average volume of 526,622. The company's fifty day simple moving average is $885.56 and its 200-day simple moving average is $816.93. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02. 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 $86.59 billion, a PE ratio of 80.92, a P/E/G ratio of 2.26 and a beta of 0.71.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix's payout ratio is 153.65%.

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.