Sumitomo Mitsui Trust Group Inc. Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 506,082 shares of the financial services provider's stock after acquiring an additional 23,479 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.52% of Equinix worth $449,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First National Trust Co raised its holdings in Equinix by 0.7% during the third quarter. First National Trust Co now owns 7,263 shares of the financial services provider's stock worth $6,447,000 after acquiring an additional 53 shares in the last quarter. Entropy Technologies LP increased its holdings in Equinix by 90.1% during the third quarter. Entropy Technologies LP now owns 5,900 shares of the financial services provider's stock worth $5,237,000 after buying an additional 2,797 shares during the last quarter. Laffer Tengler Investments Inc. raised its position in Equinix by 3.0% during the third quarter. Laffer Tengler Investments Inc. now owns 2,696 shares of the financial services provider's stock worth $2,393,000 after acquiring an additional 79 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Equinix by 3.5% in the third quarter. Venturi Wealth Management LLC now owns 1,269 shares of the financial services provider's stock valued at $1,126,000 after acquiring an additional 43 shares during the last quarter. Finally, Catalytic Wealth RIA LLC increased its stake in shares of Equinix by 39.9% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 1,392 shares of the financial services provider's stock worth $1,236,000 after purchasing an additional 397 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQIX. Mizuho raised their price target on Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a report on Thursday, September 12th. Evercore ISI upped their price target on shares of Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Scotiabank raised their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Finally, Barclays lifted their price target on Equinix from $671.00 to $810.00 and gave the stock an "equal weight" rating in a report on Monday, October 28th. Five 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $944.63.

Insider Buying and Selling

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the firm's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,632 shares of company stock valued at $10,633,777 over the last quarter. Insiders own 0.27% of the company's stock.

Equinix Trading Down 0.5 %

Shares of EQIX stock traded down $4.83 on Tuesday, hitting $908.67. The company had a trading volume of 232,618 shares, compared to its average volume of 525,961. The stock's 50-day moving average is $879.56 and its two-hundred day moving average is $813.36. 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 firm has a market cap of $87.68 billion, a P/E ratio of 82.37, a P/E/G ratio of 2.31 and a beta of 0.71. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $943.02.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix's dividend payout ratio is currently 153.65%.

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.