Blue Trust Inc. Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Blue Trust Inc. lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 55.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 912 shares of the financial services provider’s stock after selling 1,157 shares during the quarter. Blue Trust Inc.’s holdings in Equinix were worth $860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. GHP Investment Advisors Inc. grew its holdings in shares of Equinix by 50.0% in the third 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 during the period. Fortitude Family Office LLC grew its holdings in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Dunhill Financial LLC grew its holdings in shares of 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 acquiring an additional 25 shares during the period. Thompson Investment Management Inc. bought a new stake in shares of Equinix in the fourth quarter worth $47,000. Finally, Friedenthal Financial bought a new stake in shares of Equinix in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on EQIX shares. Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a report on Thursday. Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $994.82.

Insider Buying and Selling at Equinix

In other Equinix news, 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 transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. This represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,701 shares of company stock worth $15,441,464 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ:EQIX opened at $933.60 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $90.08 billion, a P/E ratio of 84.18, a P/E/G ratio of 2.23 and a beta of 0.72. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The business’s 50-day moving average is $934.88 and its 200 day moving average is $896.94.

Equinix (NASDAQ:EQIX) last posted 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 8.34% and a net margin of 12.29%. On average, equities research analysts forecast that Equinix, Inc. will post 31.09 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.01%. Equinix’s dividend payout ratio is 153.65%.

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.