Equinix, Inc. (NASDAQ:EQIX) Stock Position Reduced by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 61.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,773 shares of the financial services provider's stock after selling 4,417 shares during the period. Intech Investment Management LLC's holdings in Equinix were worth $2,461,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EQIX. Pathway Financial Advisers LLC grew its holdings in Equinix by 89,348.4% during the 3rd 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 in the last quarter. Swedbank AB acquired a new position in shares of Equinix in the 1st quarter valued at about $294,526,000. Principal Financial Group Inc. boosted its holdings in shares of Equinix by 14.5% in the 2nd 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 buying an additional 238,883 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock valued at $238,133,000 after buying an additional 160,906 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Equinix by 21.5% in the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider's stock valued at $682,826,000 after buying an additional 159,576 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares of the company's stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Hsbc Global Res raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a 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. Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $952.88.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $37.98 during midday trading on Monday, reaching $974.35. The company's stock had a trading volume of 1,976,090 shares, compared to its average volume of 533,316. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average price of $893.70 and a 200 day moving average price of $827.82. Equinix, Inc. has a one year low of $684.14 and a one year high of $976.35. The company has a market cap of $94.01 billion, a price-to-earnings ratio of 87.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.75%. Equinix's payout ratio is currently 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.