First Citizens Bank & Trust Co. Has $7.66 Million Position in Equinix, Inc. (NASDAQ:EQIX)

First Citizens Bank & Trust Co. trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,122 shares of the financial services provider’s stock after selling 184 shares during the period. First Citizens Bank & Trust Co.’s holdings in Equinix were worth $7,658,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Van ECK Associates Corp raised its position in shares of Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after acquiring an additional 1,716 shares during the last quarter. Brookfield Corp ON increased its position in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB increased its stake in Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Equinix by 25.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after acquiring an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management increased its holdings in Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

NASDAQ:EQIX opened at $940.85 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $90.78 billion, a PE ratio of 84.84, a P/E/G ratio of 2.20 and a beta of 0.73. The company has a 50 day simple moving average of $944.51 and a two-hundred day simple moving average of $882.05. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EQIX shares. TD Cowen raised their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Stifel Nicolaus lifted their price objective on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and an average target price of $984.88.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the sale, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,549 shares of company stock worth $18,036,455. 0.27% of the stock is currently owned by company insiders.

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.