KBC Group NV Sells 10,014 Shares of Equinix, Inc. (NASDAQ:EQIX)

KBC Group NV reduced its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,257 shares of the financial services provider's stock after selling 10,014 shares during the quarter. KBC Group NV owned about 0.09% of Equinix worth $83,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC increased 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 during the period. 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 valued at $36,000 after purchasing an additional 20 shares during the period. Dunhill Financial LLC grew its holdings in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after acquiring an additional 25 shares during the period. Finally, Webster Bank N. A. grew 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 acquiring an additional 27 shares during the period. Institutional investors own 94.94% of the company's stock.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares in the company, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix 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 sale, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,549 shares of company stock worth $18,036,455. Company insiders own 0.27% of the company's stock.

Equinix Stock Performance

NASDAQ:EQIX traded down $40.75 during trading hours on Monday, reaching $900.10. The company had a trading volume of 976,240 shares, compared to its average volume of 541,633. The firm has a market cap of $86.85 billion, a price-to-earnings ratio of 81.16, a PEG ratio of 2.20 and a beta of 0.73. 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 firm's 50 day moving average price is $944.51 and its 200-day moving average price is $883.61. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix's dividend payout ratio is 153.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EQIX shares. TD Cowen upped their price target on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. Hsbc Global Res upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, October 4th. Finally, Wells Fargo & Company upped their price objective on shares of Equinix from $985.00 to $1,100.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $997.53.

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.