Bank of Hawaii Sells 1,072 Shares of Equinix, Inc. (NASDAQ:EQIX)

Bank of Hawaii reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 79.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 277 shares of the financial services provider’s stock after selling 1,072 shares during the period. Bank of Hawaii’s holdings in Equinix were worth $261,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Inspire Trust Co. N.A. increased its holdings in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. Rothschild Investment LLC grew its position in shares of Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after buying an additional 11 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after buying an additional 12 shares during the period. Great Lakes Retirement Inc. raised its holdings in shares of Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after acquiring an additional 12 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 12 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $770.74 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The business has a fifty day moving average of $866.01 and a 200 day moving average of $901.71. The firm has a market capitalization of $75.02 billion, a price-to-earnings ratio of 90.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is presently 219.42%.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the transaction, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 over the last 90 days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Scotiabank boosted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Truist Financial cut their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Oppenheimer upped their price objective on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix currently has an average rating of “Buy” and a consensus price target of $1,007.59.

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.