Griffin Asset Management Inc. Sells 175 Shares of Equinix, Inc. (NASDAQ:EQIX)

Griffin Asset Management Inc. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,758 shares of the financial services provider’s stock after selling 175 shares during the quarter. Griffin Asset Management Inc.’s holdings in Equinix were worth $1,657,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EQIX. GHP Investment Advisors Inc. boosted its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Sugarloaf Wealth Management LLC raised its stake in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares in the last quarter. Dunhill Financial LLC lifted its holdings in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the period. Finally, Webster Bank N. A. boosted its position in Equinix by 112.5% during the 3rd quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 27 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of EQIX opened at $900.10 on Tuesday. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market cap of $86.85 billion, a price-to-earnings ratio of 81.16, a PEG ratio of 2.20 and a beta of 0.73. The business has a 50-day simple moving average of $944.51 and a two-hundred day simple moving average of $883.61.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EQIX shares. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI upped their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lifted their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Truist Financial upped their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $997.53.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now directly owns 6,505 shares of the company’s stock, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,549 shares of company stock valued at $18,036,455 over the last 90 days. 0.27% of the stock is currently owned by corporate 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.