iA Global Asset Management Inc. Cuts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

iA Global Asset Management Inc. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 97.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 220 shares of the financial services provider’s stock after selling 9,296 shares during the quarter. iA Global Asset Management Inc.’s holdings in Equinix were worth $195,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Equinix by 89,348.4% during the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after purchasing an additional 398,494 shares in the last quarter. Adelante Capital Management LLC grew its stake in Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Equinix by 104.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after buying an additional 160,906 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQIX has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. HSBC raised Equinix from a “hold” rating to a “buy” rating and raised their price objective for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. BMO Capital Markets upped their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $970.38.

Insider Buying and Selling

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock valued at $7,906,218 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.7 %

NASDAQ EQIX opened at $961.72 on Wednesday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $92.80 billion, a PE ratio of 86.72, a P/E/G ratio of 2.54 and a beta of 0.72. The company has a fifty day moving average of $912.85 and a 200 day moving average of $840.99.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. Equinix’s payout ratio is 153.65%.

Equinix 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.