1832 Asset Management L.P. Has $17.40 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

1832 Asset Management L.P. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 34.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,081 shares of the financial services provider’s stock after selling 11,165 shares during the period. 1832 Asset Management L.P.’s holdings in Equinix were worth $17,399,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. CNB Bank raised its position in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Equinix in the fourth quarter valued at approximately $32,000. Rise Advisors LLC acquired a new stake in shares of Equinix in the first quarter valued at approximately $39,000. Finally, Rational Advisors LLC acquired a new stake in shares of Equinix in the first quarter valued at approximately $53,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $3.12 during midday trading on Friday, reaching $772.43. 541,016 shares of the company were exchanged, compared to its average volume of 366,784. The stock’s 50-day moving average price is $770.49 and its 200-day moving average price is $797.06. The stock has a market cap of $73.31 billion, a P/E ratio of 77.48, a PEG ratio of 2.67 and a beta of 0.68. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.21%. Equinix’s dividend payout ratio is 170.91%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target for the company. TD Cowen dropped their price target on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Barclays boosted their price objective on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $875.50.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

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.