Intech Investment Management LLC Sells 4,417 Shares of Equinix, Inc. (NASDAQ:EQIX)

Intech Investment Management LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 61.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,773 shares of the financial services provider’s stock after selling 4,417 shares during the period. Intech Investment Management LLC’s holdings in Equinix were worth $2,461,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the 2nd quarter valued at $30,000. LRI Investments LLC acquired a new position in Equinix in the first quarter valued at about $31,000. GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% during the third 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 last quarter. Fortitude Family Office LLC increased its holdings in shares of Equinix by 50.0% during the third 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 in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Equinix in the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock valued at $11,666,756 in the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Stock Up 1.4 %

NASDAQ:EQIX opened at $936.37 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The stock’s fifty day simple moving average is $891.74 and its 200-day simple moving average is $826.40. The firm has a market capitalization of $90.35 billion, a P/E ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. Equinix’s payout ratio is currently 153.65%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EQIX shares. Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Wells Fargo & Company raised their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, TD Cowen upped 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 investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

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.