Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 610 shares of the financial services provider’s stock after selling 40 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Equinix were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Equinix during the 2nd quarter worth approximately $30,000. LRI Investments LLC acquired a new position in Equinix in the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. lifted its holdings in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Equinix during the second quarter valued at approximately $36,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In related news, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock worth $11,666,756 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

EQIX has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus lifted their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Equinix Stock Performance

Equinix stock opened at $936.37 on Monday. The firm has a market capitalization of $90.35 billion, a PE ratio of 84.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.71. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. The stock’s 50 day moving average price is $891.74 and its 200 day moving average price is $826.40. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

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.