Comgest Global Investors S.A.S. Sells 1,911 Shares of Equinix, Inc. (NASDAQ:EQIX)

Comgest Global Investors S.A.S. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,932 shares of the financial services provider’s stock after selling 1,911 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in Equinix were worth $2,603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BDF Gestion bought a new position in Equinix during the second quarter worth about $2,659,000. Van ECK Associates Corp boosted its position in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the period. Bessemer Group Inc. boosted its position in Equinix by 159.4% during the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 1,380 shares during the period. E. Ohman J or Asset Management AB boosted its position in Equinix by 3.0% during the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after acquiring an additional 75,888 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock traded down $0.75 during trading hours on Friday, hitting $897.37. 368,707 shares of the company’s stock were exchanged, compared to its average volume of 526,622. The company has a market capitalization of $86.59 billion, a PE ratio of 80.92, a PEG ratio of 2.26 and a beta of 0.71. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The business’s 50 day simple moving average is $885.56 and its 200-day simple moving average is $816.93. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. This represents a 44.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. This trade represents a 99.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,654 shares of company stock valued at $11,577,656 over the last three months. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on EQIX. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Scotiabank raised their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. TD Cowen raised their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Mizuho raised their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

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.