Sompo Asset Management Co. Ltd. Has $541,000 Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Sompo Asset Management Co. Ltd. lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 610 shares of the financial services provider’s stock after selling 40 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Equinix were worth $541,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EQIX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the 2nd quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the first quarter worth $31,000. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC lifted 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 worth $35,000 after acquiring an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Equinix during the 2nd quarter worth about $36,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EQIX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Scotiabank increased their price objective on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Mizuho upped their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Stifel Nicolaus increased their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $952.88.

Equinix Stock Up 1.4 %

EQIX opened at $936.37 on Monday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The business has a 50 day moving average of $891.74 and a 200-day moving average of $826.40. The stock has a market capitalization of $90.35 billion, a price-to-earnings ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

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.