Everence Capital Management Inc. Sells 1,380 Shares of Equinix, Inc. (NASDAQ:EQIX)

Everence Capital Management Inc. cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 33.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,717 shares of the financial services provider's stock after selling 1,380 shares during the quarter. Everence Capital Management Inc.'s holdings in Equinix were worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock valued at $960,820,000 after purchasing an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock worth $354,111,000 after buying an additional 398,494 shares during the last quarter. Adelante Capital Management LLC raised its holdings in Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider's stock valued at $456,441,000 after acquiring an additional 344,114 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in Equinix by 104.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock worth $238,133,000 after acquiring an additional 160,906 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

Equinix stock traded up $15.74 during mid-day trading on Friday, hitting $959.97. The company's stock had a trading volume of 284,281 shares, compared to its average volume of 362,341. The stock has a market capitalization of $92.63 billion, a P/E ratio of 86.56, a P/E/G ratio of 2.51 and a beta of 0.73. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The stock's fifty day moving average price is $937.42 and its two-hundred day moving average price is $863.15. 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 business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, November 13th. Equinix's dividend payout ratio (DPR) is presently 153.65%.

Insider Activity

In other news, EVP Raouf Abdel sold 1,022 shares of Equinix 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 transaction, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares in the company, valued at approximately $7,531,365. This trade represents a 9.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,398 shares of company stock valued at $7,906,218 over the last three months. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EQIX. The Goldman Sachs Group upped their target price on shares of Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. HSBC upgraded Equinix from a "hold" rating to a "buy" rating and boosted their price target for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Stifel Nicolaus raised their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Finally, TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has an average rating of "Moderate Buy" and an average price target of $976.81.

Equinix Company 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.