iA Global Asset Management Inc. Sells 9,296 Shares of Equinix, Inc. (NASDAQ:EQIX)

iA Global Asset Management Inc. lessened its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 97.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220 shares of the financial services provider's stock after selling 9,296 shares during the period. iA Global Asset Management Inc.'s holdings in Equinix were worth $195,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EQIX. GHP Investment Advisors Inc. boosted its holdings 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 buying an additional 13 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock worth $35,000 after buying an additional 13 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Equinix during the 2nd quarter worth about $36,000. Sugarloaf Wealth Management LLC boosted its holdings in shares of 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 buying an additional 20 shares during the period. Finally, Webster Bank N. A. boosted its holdings in shares of Equinix by 112.5% during the 3rd quarter. Webster Bank N. A. now owns 51 shares of the financial services provider's stock worth $45,000 after buying an additional 27 shares during the period. Institutional investors own 94.94% of the company's stock.

Equinix Trading Up 1.2 %

EQIX traded up $11.85 during trading on Wednesday, reaching $973.57. 387,828 shares of the company's stock were exchanged, compared to its average volume of 529,832. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. 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 stock has a market capitalization of $93.94 billion, a PE ratio of 87.35, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. The firm has a fifty day moving average price of $914.42 and a two-hundred day moving average price of $842.36.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Wednesday, November 13th. Equinix's payout ratio is 153.65%.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 1,726 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 6,505 shares of the company's stock, valued at approximately $5,886,959.95. This represents a 20.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock valued at $7,906,218 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

EQIX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Finally, Hsbc Global Res upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average 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.