Coastline Trust Co Lowers Holdings in Equinix, Inc. (NASDAQ:EQIX)

Coastline Trust Co decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 82.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75 shares of the financial services provider’s stock after selling 346 shares during the quarter. Coastline Trust Co’s holdings in Equinix were worth $67,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the 2nd quarter valued at about $30,000. LRI Investments LLC purchased a new position in shares of Equinix during the 1st quarter worth approximately $31,000. GHP Investment Advisors Inc. increased its holdings in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Equinix during the second quarter worth $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Scotiabank boosted their price target on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. JPMorgan Chase & Co. increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group upped their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average target price of $944.63.

Equinix Stock Down 0.1 %

Shares of NASDAQ EQIX opened at $897.37 on Friday. The business has a 50-day moving average price of $885.56 and a 200 day moving average price of $817.67. The stock has a market cap of $86.59 billion, a PE ratio of 80.92, a price-to-earnings-growth ratio of 2.26 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02.

Equinix Announces Dividend

The company 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. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Transactions at Equinix

In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. This represents a 99.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,654 shares of company stock worth $11,577,656. Insiders own 0.27% of the company’s stock.

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.