StrongBox Wealth LLC Sells 343 Shares of Equinix, Inc. (NASDAQ:EQIX)

StrongBox Wealth LLC decreased its position in Equinix, Inc. (NASDAQ:EQIXGet Rating) by 22.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,204 shares of the financial services provider’s stock after selling 343 shares during the quarter. StrongBox Wealth LLC’s holdings in Equinix were worth $791,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Equinix during the 4th quarter valued at $625,540,000. BlackRock Inc. grew its position in Equinix by 5.2% in the fourth quarter. BlackRock Inc. now owns 8,928,856 shares of the financial services provider’s stock valued at $7,552,383,000 after acquiring an additional 441,521 shares during the last quarter. State Street Corp grew its position in Equinix by 9.6% in the fourth quarter. State Street Corp now owns 4,946,856 shares of the financial services provider’s stock valued at $4,184,249,000 after acquiring an additional 433,155 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Equinix by 2.0% during the first quarter. Vanguard Group Inc. now owns 11,930,683 shares of the financial services provider’s stock worth $8,848,034,000 after purchasing an additional 228,639 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Equinix by 180.6% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 261,334 shares of the financial services provider’s stock worth $193,811,000 after purchasing an additional 168,186 shares during the last quarter. Institutional investors own 93.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EQIX shares. Jefferies Financial Group raised Equinix from a “hold” rating to a “buy” rating and upped their target price for the stock from $750.00 to $790.00 in a research report on Thursday, June 30th. Morgan Stanley reduced their price objective on Equinix from $773.00 to $732.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 26th. Oppenheimer upgraded Equinix from a “market perform” rating to an “outperform” rating and set a $750.00 price target for the company in a research note on Thursday, July 28th. The Goldman Sachs Group dropped their price objective on Equinix from $875.00 to $765.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Finally, BMO Capital Markets reduced their price objective on Equinix from $825.00 to $770.00 in a research report on Thursday, May 26th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $809.50.

Equinix Stock Performance

EQIX stock traded down $17.16 during midday trading on Friday, reaching $592.10. The stock had a trading volume of 7,985 shares, compared to its average volume of 401,178. The firm has a fifty day simple moving average of $663.36 and a two-hundred day simple moving average of $682.54. The stock has a market cap of $53.92 billion, a PE ratio of 86.67, a P/E/G ratio of 2.64 and a beta of 0.49. Equinix, Inc. has a 52-week low of $606.12 and a 52-week high of $868.82. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.04 and a current ratio of 2.04.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 17th were paid a dividend of $3.10 per share. The ex-dividend date was Tuesday, August 16th. This represents a $12.40 dividend on an annualized basis and a dividend yield of 2.09%. Equinix’s payout ratio is currently 176.39%.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 3,356 shares of Equinix stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $710.15, for a total value of $2,383,263.40. Following the completion of the transaction, the insider now owns 17,284 shares in the company, valued at approximately $12,274,232.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Brandi Galvin Morandi sold 3,356 shares of Equinix stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $710.15, for a total value of $2,383,263.40. Following the sale, the insider now directly owns 17,284 shares in the company, valued at approximately $12,274,232.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Earl Campbell sold 1,000 shares of Equinix stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $713.17, for a total value of $713,170.00. Following the completion of the sale, the insider now owns 11,044 shares in the company, valued at $7,876,249.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,808 shares of company stock worth $3,394,370. Insiders own 0.32% of the company’s stock.

Equinix Company Profile

(Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

See Also

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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