Equinix, Inc. (NASDAQ:EQIX) Shares Sold by StrongBox Wealth LLC

StrongBox Wealth LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 36.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470 shares of the financial services provider's stock after selling 832 shares during the period. StrongBox Wealth LLC's holdings in Equinix were worth $1,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas bought a new stake in shares of Equinix in the fourth quarter worth $342,000. Moseley Investment Management Inc. grew its holdings in Equinix by 17.2% during the 4th quarter. Moseley Investment Management Inc. now owns 668 shares of the financial services provider's stock worth $630,000 after acquiring an additional 98 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Equinix by 31.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 63 shares of the financial services provider's stock worth $59,000 after purchasing an additional 15 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Equinix by 10.3% in the 4th quarter. Park Avenue Securities LLC now owns 1,898 shares of the financial services provider's stock valued at $1,790,000 after purchasing an additional 178 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Equinix by 7.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 1,184 shares of the financial services provider's stock worth $1,116,000 after purchasing an additional 80 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 863 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the sale, the insider now directly owns 8,231 shares of the company's stock, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares of the company's stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded up $19.88 during trading hours on Thursday, hitting $919.89. The stock had a trading volume of 514,949 shares, compared to its average volume of 516,305. 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 stock's fifty day simple moving average is $941.51 and its 200 day simple moving average is $874.47. The firm has a market capitalization of $88.76 billion, a price-to-earnings ratio of 82.95, a PEG ratio of 2.12 and a beta of 0.73. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.85%. Equinix's dividend payout ratio (DPR) is presently 153.65%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Hsbc Global Res raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, October 4th. The Goldman Sachs Group boosted their price target on Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a report on Thursday, September 26th. BMO Capital Markets upped their price target on Equinix from $975.00 to $1,020.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. TD Cowen lifted their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Equinix currently has an average rating of "Moderate Buy" and a consensus target price of $976.81.

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.