Ashton Thomas Private Wealth LLC Sells 22 Shares of Equinix, Inc. (NASDAQ:EQIX)

Ashton Thomas Private Wealth LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 381 shares of the financial services provider’s stock after selling 22 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Equinix were worth $338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Equinix by 4.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 506,082 shares of the financial services provider’s stock worth $449,214,000 after purchasing an additional 23,479 shares in the last quarter. First National Trust Co grew its holdings in Equinix by 0.7% during the third quarter. First National Trust Co now owns 7,263 shares of the financial services provider’s stock valued at $6,447,000 after purchasing an additional 53 shares during the period. Entropy Technologies LP raised its stake in shares of Equinix by 90.1% in the third quarter. Entropy Technologies LP now owns 5,900 shares of the financial services provider’s stock worth $5,237,000 after buying an additional 2,797 shares during the period. Laffer Tengler Investments Inc. lifted its position in shares of Equinix by 3.0% during the 3rd quarter. Laffer Tengler Investments Inc. now owns 2,696 shares of the financial services provider’s stock valued at $2,393,000 after buying an additional 79 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Equinix by 3.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,269 shares of the financial services provider’s stock valued at $1,126,000 after acquiring an additional 43 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Earl Campbell sold 600 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $816.73, for a total value of $490,038.00. Following the sale, the insider now directly owns 14,800 shares of the company’s stock, valued at $12,087,604. This represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,654 shares of company stock worth $11,577,656 over the last quarter. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several analyst reports. 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 report on Thursday, October 31st. Barclays lifted their target price on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Wells Fargo & Company increased their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Scotiabank boosted their price objective on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Finally, Evercore ISI boosted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $944.63.

Equinix Price Performance

NASDAQ:EQIX opened at $898.12 on Friday. The firm has a market capitalization of $86.66 billion, a price-to-earnings ratio of 80.98, a PEG ratio of 2.27 and a beta of 0.71. 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 business has a 50 day simple moving average of $882.45 and a 200-day simple moving average of $815.17. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 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.