First Hawaiian Bank Sells 135 Shares of Equinix, Inc. (NASDAQ:EQIX)

First Hawaiian Bank lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 21.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 494 shares of the financial services provider’s stock after selling 135 shares during the quarter. First Hawaiian Bank’s holdings in Equinix were worth $466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC raised its position in Equinix by 134.0% during the second quarter. Private Advisor Group LLC now owns 2,179 shares of the financial services provider’s stock valued at $1,649,000 after purchasing an additional 1,248 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Equinix by 42.0% during the 2nd quarter. Wedbush Securities Inc. now owns 626 shares of the financial services provider’s stock valued at $474,000 after buying an additional 185 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in Equinix by 38.0% in the second quarter. Johnson Investment Counsel Inc. now owns 1,920 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 529 shares in the last quarter. PFG Advisors grew its position in Equinix by 6.9% during the second quarter. PFG Advisors now owns 1,458 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 94 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Equinix during the second quarter worth approximately $3,743,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of a number of research reports. Truist Financial upped their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. BMO Capital Markets lifted their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Scotiabank increased their target price on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Three research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

Equinix stock opened at $899.83 on Friday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market cap of $86.82 billion, a price-to-earnings ratio of 81.14, a PEG ratio of 2.48 and a beta of 0.73. The stock’s 50 day simple moving average is $941.47 and its two-hundred day simple moving average is $871.34. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.89%. Equinix’s payout ratio is 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.