Pitcairn Co. Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Pitcairn Co. lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 354 shares of the financial services provider’s stock after selling 53 shares during the period. Pitcairn Co.’s holdings in Equinix were worth $314,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd raised its position in Equinix by 140.0% in the first quarter. Plato Investment Management Ltd now owns 132 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 77 shares during the period. LRI Investments LLC bought a new position in Equinix during the first quarter valued at $31,000. Atria Investments Inc increased its position in Equinix by 14.9% in the first quarter. Atria Investments Inc now owns 8,744 shares of the financial services provider’s stock worth $7,216,000 after buying an additional 1,137 shares during the last quarter. PGGM Investments raised its stake in shares of Equinix by 55.8% in the first quarter. PGGM Investments now owns 414,217 shares of the financial services provider’s stock valued at $341,866,000 after buying an additional 148,365 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Equinix by 220.6% during the 1st quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock valued at $6,699,000 after buying an additional 5,586 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 $4,518,979.08. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 over the last ninety days. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Cfra restated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Truist Financial lifted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, BMO Capital Markets lifted their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Stock Up 0.1 %

Shares of NASDAQ:EQIX opened at $979.10 on Thursday. 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 fifty day moving average of $898.34 and a 200 day moving average of $830.42. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a market capitalization of $94.47 billion, a PE ratio of 88.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.71.

Equinix Dividend Announcement

The company 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 annualized dividend and a yield of 1.74%. The ex-dividend date 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.