Equinix, Inc. (NASDAQ:EQIX) Shares Sold by First American Trust FSB

First American Trust FSB lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,730 shares of the financial services provider’s stock after selling 123 shares during the quarter. First American Trust FSB’s holdings in Equinix were worth $3,004,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Equinix by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after acquiring an additional 34,926 shares during the period. Geode Capital Management LLC raised its stake in shares of Equinix by 1.2% during the first quarter. Geode Capital Management LLC now owns 2,004,008 shares of the financial services provider’s stock worth $1,441,837,000 after purchasing an additional 23,150 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 44.6% during the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock worth $1,015,610,000 after purchasing an additional 431,435 shares during the period. Northern Trust Corp grew its position in Equinix by 1.7% in the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock valued at $862,790,000 after buying an additional 20,241 shares during the last quarter. Finally, Norges Bank acquired a new position in Equinix in the 4th quarter valued at $725,557,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now directly owns 7,968 shares in the company, valued at approximately $6,622,364.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares in the company, valued at $19,314,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,282 shares of company stock worth $14,788,771. 0.32% of the stock is currently owned by company insiders.

Equinix Price Performance

Shares of NASDAQ EQIX traded down $19.94 during mid-day trading on Monday, reaching $744.11. 574,819 shares of the company traded hands, compared to its average volume of 560,638. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a fifty day simple moving average of $844.04 and a 200-day simple moving average of $801.95. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93. The firm has a market cap of $70.41 billion, a PE ratio of 73.10, a price-to-earnings-growth ratio of 1.82 and a beta of 0.58.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.29%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio is currently 165.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EQIX shares. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Royal Bank of Canada lifted their target price on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Truist Financial increased their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Barclays reduced their target price on Equinix from $788.00 to $781.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. Finally, Oppenheimer increased their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $868.72.

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.