OVERSEA CHINESE BANKING Corp Ltd Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,936 shares of the financial services provider's stock after selling 1,547 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Equinix were worth $17,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. First National Trust Co boosted its stake in Equinix by 0.7% in the third quarter. First National Trust Co now owns 7,263 shares of the financial services provider's stock valued at $6,447,000 after acquiring an additional 53 shares in the last quarter. Entropy Technologies LP boosted its stake in Equinix by 90.1% in the third quarter. Entropy Technologies LP now owns 5,900 shares of the financial services provider's stock valued at $5,237,000 after acquiring an additional 2,797 shares in the last quarter. Laffer Tengler Investments Inc. raised its holdings in shares of Equinix by 3.0% in the third quarter. Laffer Tengler Investments Inc. now owns 2,696 shares of the financial services provider's stock worth $2,393,000 after buying an additional 79 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Equinix by 3.5% in the third quarter. Venturi Wealth Management LLC now owns 1,269 shares of the financial services provider's stock worth $1,126,000 after buying an additional 43 shares during the last quarter. Finally, Catalytic Wealth RIA LLC raised its holdings in shares of Equinix by 39.9% in the third quarter. Catalytic Wealth RIA LLC now owns 1,392 shares of the financial services provider's stock worth $1,236,000 after buying an additional 397 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of NASDAQ EQIX traded down $5.50 during trading on Tuesday, hitting $908.00. The company had a trading volume of 150,717 shares, compared to its average volume of 525,587. The stock has a fifty day simple moving average of $879.56 and a two-hundred day simple moving average of $813.36. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The firm has a market capitalization of $87.61 billion, a price-to-earnings ratio of 82.37, a price-to-earnings-growth ratio of 2.31 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 1.88%. Equinix's payout ratio is presently 153.65%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EQIX shares. TD Cowen raised their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Cfra reissued a "hold" rating on shares of Equinix in a report on Tuesday, September 24th. BMO Capital Markets raised their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, Scotiabank raised their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 31st. 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $944.63.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 1,726 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares in the company, valued at approximately $5,886,959.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Meredith Williamson sold 576 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,632 shares of company stock worth $10,633,777. 0.27% of the stock is owned by insiders.

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.