Equinix, Inc. (NASDAQ:EQIX) Holdings Decreased by Sentinel Trust Co. LBA

Sentinel Trust Co. LBA reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 60.0% in the 4th quarter, Holdings Channel reports. The fund owned 400 shares of the financial services provider’s stock after selling 600 shares during the period. Sentinel Trust Co. LBA’s holdings in Equinix were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EQIX. Kestra Investment Management LLC purchased a new stake in shares of Equinix in the fourth quarter worth approximately $31,000. Fortitude Family Office LLC increased its stake in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Sierra Ocean LLC purchased a new stake in Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC boosted its stake in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new position in shares of Equinix during the 4th quarter valued at $47,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, TD Cowen lifted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Equinix has an average rating of “Buy” and an average price target of $994.82.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix 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 sale, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,741 shares of company stock valued at $21,988,532. Insiders own 0.27% of the company’s stock.

Equinix Trading Up 0.0 %

Equinix stock opened at $910.38 on Friday. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $88.61 billion, a PE ratio of 106.48, a PEG ratio of 1.78 and a beta of 0.72. The business’s 50-day simple moving average is $928.65 and its 200-day simple moving average is $904.11.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.06%. Equinix’s payout ratio is presently 219.42%.

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.