Equinix, Inc. (NASDAQ:EQIX) Stake Reduced by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 28.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116 shares of the financial services provider’s stock after selling 45 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Equinix were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares during the last quarter. Brookfield Corp ON lifted its position in shares of Equinix by 67.3% during the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after acquiring an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB lifted its position in shares of Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after acquiring an additional 1,103 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after acquiring an additional 75,888 shares during the last quarter. Finally, Thematics Asset Management raised its position in shares of Equinix by 17.7% during the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.7 %

Equinix stock opened at $959.97 on Friday. The company has a market capitalization of $92.63 billion, a P/E ratio of 86.56, a P/E/G ratio of 2.51 and a beta of 0.73. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm’s fifty day simple moving average is $938.33 and its 200-day simple moving average is $864.52. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.78%. Equinix’s dividend payout ratio is currently 153.65%.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of analyst reports. TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Royal Bank of Canada lifted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, BMO Capital Markets increased their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $976.81.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by corporate insiders.

About Equinix

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.