Y Intercept Hong Kong Ltd Has $972,000 Stake in Equinix, Inc. (NASDAQ:EQIX)

Y Intercept Hong Kong Ltd trimmed its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 72.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,095 shares of the financial services provider's stock after selling 2,920 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Equinix were worth $972,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQIX. GHP Investment Advisors Inc. boosted its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC boosted its position in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock worth $35,000 after buying an additional 13 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Equinix during the second quarter valued at $36,000. Sugarloaf Wealth Management LLC raised its position in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider's stock valued at $36,000 after buying an additional 20 shares during the period. Finally, Dunhill Financial LLC lifted its stake in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after acquiring an additional 25 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research reports. Hsbc Global Res upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, October 4th. BMO Capital Markets boosted their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Mizuho increased their price objective on Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a report on Thursday, September 12th. Scotiabank boosted their target price on Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a research note on Thursday, October 31st. Finally, Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a research note on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $976.81.

Insider Transactions at Equinix

In other news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now directly owns 4,893 shares of the company's stock, valued at $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares of the company's stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,398 shares of company stock valued at $7,906,218. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ EQIX traded down $10.30 during trading hours on Friday, reaching $965.00. The stock had a trading volume of 394,531 shares, compared to its average volume of 528,252. The company has a market cap of $93.11 billion, a price-to-earnings ratio of 88.11, a PEG ratio of 2.51 and a beta of 0.72. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The business's fifty day moving average is $918.14 and its two-hundred day moving average is $844.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.77%. The ex-dividend date was Wednesday, November 13th. Equinix's dividend payout ratio (DPR) is presently 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.