Amalgamated Bank Cuts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Amalgamated Bank lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,255 shares of the financial services provider’s stock after selling 979 shares during the quarter. Amalgamated Bank’s holdings in Equinix were worth $18,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. grew its stake in Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares in the last quarter. Providence Capital Advisors LLC purchased a new position in Equinix during the third quarter worth approximately $29,000. Criterion Capital Advisors LLC purchased a new position in Equinix during the fourth quarter worth approximately $32,000. Operose Advisors LLC acquired a new position in Equinix during the third quarter worth $36,000. Finally, Asset Dedication LLC grew its holdings in Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.2 %

Shares of Equinix stock traded up $1.48 during trading hours on Friday, reaching $700.18. 762,407 shares of the company were exchanged, compared to its average volume of 594,184. The firm has a market cap of $66.25 billion, a PE ratio of 67.88, a PEG ratio of 1.79 and a beta of 0.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93. The stock’s fifty day moving average is $811.00 and its 200 day moving average is $801.59.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.43%. Equinix’s dividend payout ratio (DPR) is 165.28%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EQIX shares. Morgan Stanley lowered their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. BMO Capital Markets increased their price target on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Barclays cut their target price on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a research note on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $862.50.

Insider Buying and Selling at Equinix

In other news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares in the company, valued at approximately $1,034,548.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

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.