Franklin Resources Inc. Sells 84,005 Shares of Equinix, Inc. (NASDAQ:EQIX)

Franklin Resources Inc. reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 59.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,387 shares of the financial services provider's stock after selling 84,005 shares during the period. Franklin Resources Inc. owned approximately 0.06% of Equinix worth $48,832,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. boosted its position in shares of Equinix by 50.0% during 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 in the last quarter. Fortitude Family Office LLC lifted 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 valued at $35,000 after acquiring an additional 13 shares in the last quarter. Sugarloaf Wealth Management LLC increased its position in Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider's stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Equinix in the 2nd quarter valued at about $36,000. Finally, Dunhill Financial LLC lifted its holdings in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

EQIX has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a report on Monday, November 18th. Hsbc Global Res raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 4th. Scotiabank increased their target price on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective 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. Finally, Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $976.81.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares of the company's stock, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company's stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,398 shares of company stock valued at $7,906,218. Corporate insiders own 0.27% of the company's stock.

Equinix Price Performance

Shares of EQIX traded down $0.64 during mid-day trading on Wednesday, hitting $960.20. The company's stock had a trading volume of 52,829 shares, compared to its average volume of 525,827. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $92.65 billion, a price-to-earnings ratio of 86.64, a PEG ratio of 2.51 and a beta of 0.72. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a 50-day moving average price of $923.43 and a 200 day moving average price of $849.51.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Wednesday, November 13th. Equinix's dividend payout ratio is currently 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.