Davis R M Inc. Sells 1,623 Shares of Equinix, Inc. (NASDAQ:EQIX)

Davis R M Inc. reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,351 shares of the financial services provider’s stock after selling 1,623 shares during the period. Davis R M Inc.’s holdings in Equinix were worth $31,379,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Prosperity Financial Group Inc. bought a new position in Equinix during the third quarter valued at $230,000. Bank of Hawaii bought a new position in shares of Equinix during the 3rd quarter worth $1,197,000. Daiwa Securities Group Inc. grew its stake in shares of Equinix by 0.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 570,547 shares of the financial services provider’s stock worth $506,435,000 after acquiring an additional 4,895 shares during the period. Summit Trail Advisors LLC increased its holdings in Equinix by 34.4% in the 3rd quarter. Summit Trail Advisors LLC now owns 809 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 207 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Equinix by 80.0% in the 3rd quarter. Larson Financial Group LLC now owns 108 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $936.37 on Monday. The stock has a market cap of $90.35 billion, a price-to-earnings ratio of 84.43, a P/E/G ratio of 2.41 and a beta of 0.71. The stock’s 50-day moving average is $891.74 and its 200 day moving average is $826.40. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.82%. Equinix’s payout ratio is 153.65%.

Insider Activity

In related news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. This represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,754 shares of company stock valued at $11,666,756. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EQIX. Wells Fargo & Company lifted their target price on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. TD Cowen increased their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, Evercore ISI upped their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

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.