Tobam Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

Tobam lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131 shares of the financial services provider’s stock after selling 28 shares during the quarter. Tobam’s holdings in Equinix were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Inspire Trust Co. N.A. raised its position in Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 11 shares in the last quarter. GS Investments Inc. raised its holdings in Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after acquiring an additional 12 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 12 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. 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, Fortitude Family Office LLC increased its position in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EQIX shares. Scotiabank lifted their price objective on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research report on Thursday, January 23rd. TD Cowen upped their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Barclays increased their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $996.06.

Insider Activity

In other news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the 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 transaction, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,801 shares of company stock valued at $15,530,564. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $933.27 on Friday. The stock’s 50-day moving average price is $939.33 and its 200 day moving average price is $889.81. 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 capitalization of $90.05 billion, a PE ratio of 84.15, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

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.