Presima Securities ULC Has $50.90 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Presima Securities ULC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,979 shares of the financial services provider’s stock after selling 2,966 shares during the period. Equinix accounts for approximately 12.5% of Presima Securities ULC’s holdings, making the stock its biggest position. Presima Securities ULC’s holdings in Equinix were worth $50,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after buying an additional 33,277 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. raised its position in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Equinix by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after acquiring an additional 53,729 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now directly owns 6,505 shares of the company’s stock, valued at approximately $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. Insiders have sold 19,549 shares of company stock worth $18,036,455 in the last ninety days. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQIX. TD Cowen upped their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets increased their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial upped their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays upped their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $984.88.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $940.85 on Friday. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market cap of $90.78 billion, a P/E ratio of 84.84, a P/E/G ratio of 2.20 and a beta of 0.73. The business’s 50 day moving average is $943.64 and its two-hundred day moving average is $880.78.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Equinix Company 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.