Zurich Insurance Group Ltd FI Sells 19,172 Shares of Equinix, Inc. (NASDAQ:EQIX)

Zurich Insurance Group Ltd FI trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 49.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,212 shares of the financial services provider's stock after selling 19,172 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Equinix were worth $17,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. State Street Corp increased its stake in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider's stock valued at $1,009,293,000 after purchasing an additional 19,844 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider's stock valued at $1,006,724,000 after purchasing an additional 53,729 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock worth $960,820,000 after purchasing an additional 813,666 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company's stock, valued at $7,729,900. This represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares of the company's stock, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,262 shares of company stock worth $8,640,618. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EQIX. Truist Financial boosted their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. HSBC raised shares of Equinix from a "hold" rating to a "buy" rating and upped their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Mizuho raised their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a research note on Thursday, September 12th. Stifel Nicolaus lifted their price objective on Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Finally, Scotiabank increased their target price on Equinix from $954.00 to $985.00 and gave the stock a "sector outperform" rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $962.56.

Equinix Price Performance

Shares of Equinix stock traded up $11.20 during trading on Friday, reaching $985.00. The company's stock had a trading volume of 541,542 shares, compared to its average volume of 530,518. The stock has a 50-day moving average price of $911.22 and a two-hundred day moving average price of $839.57. The stock has a market capitalization of $95.04 billion, a P/E ratio of 88.82, a price-to-earnings-growth ratio of 2.49 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders 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 1.73%. The ex-dividend date is Wednesday, November 13th. Equinix's dividend payout ratio is presently 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.