Equinix, Inc. (NASDAQ:EQIX) Stock Position Lessened by Wolverine Asset Management LLC

Wolverine Asset Management LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 74.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 340 shares of the financial services provider's stock after selling 1,013 shares during the period. Wolverine Asset Management LLC's holdings in Equinix were worth $302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix during the second quarter worth about $30,000. LRI Investments LLC acquired a new stake in Equinix during the 1st quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after buying an additional 13 shares during the period. 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 worth $35,000 after acquiring an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Equinix in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 44.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $4,518,979.08. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,654 shares of company stock valued at $11,577,656. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft increased their price target on Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a report on Tuesday, August 13th. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. BMO Capital Markets boosted their price target on Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. Finally, TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $944.63.

Equinix Stock Performance

Shares of NASDAQ EQIX traded down $1.47 during trading on Friday, reaching $896.65. The stock had a trading volume of 268,327 shares, compared to its average volume of 525,944. The firm's 50 day moving average price is $883.98 and its two-hundred day moving average price is $815.75. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The stock has a market cap of $86.52 billion, a PE ratio of 80.53, a P/E/G ratio of 2.26 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

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. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. Equinix's dividend payout ratio (DPR) is 153.65%.

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.