Yousif Capital Management LLC Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Yousif Capital Management LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,400 shares of the financial services provider’s stock after selling 255 shares during the quarter. Yousif Capital Management LLC’s holdings in Equinix were worth $14,521,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EQIX. State Street Corp boosted its position in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing 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 3rd 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 in the last quarter. Principal Financial Group Inc. grew its stake in Equinix by 0.3% in the 3rd 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 acquiring an additional 5,910 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Equinix by 5.0% during the third 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 during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

EQIX has been the topic of several research reports. Truist Financial increased their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company reduced their price objective on Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating on the stock in a research report on Tuesday. 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 research report on Thursday, October 31st. Finally, Evercore ISI upped their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $996.06.

Equinix Trading Up 1.0 %

Shares of EQIX opened at $924.28 on Wednesday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market capitalization of $89.18 billion, a P/E ratio of 83.34, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $942.07 and its 200 day simple moving average is $888.17.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now owns 1,015 shares in the company, valued at approximately $976,633. This represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,823 shares of company stock worth $16,474,442 in the last three months. 0.27% of the stock is currently owned by company insiders.

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.