Eastern Bank Lowers Holdings in Equinix, Inc. (NASDAQ:EQIX)

Eastern Bank lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,861 shares of the financial services provider’s stock after selling 282 shares during the quarter. Eastern Bank’s holdings in Equinix were worth $15,898,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in Equinix in the 4th quarter valued at about $209,000. Wedmont Private Capital grew its holdings in shares of Equinix by 7.3% during the 4th quarter. Wedmont Private Capital now owns 1,032 shares of the financial services provider’s stock worth $928,000 after purchasing an additional 70 shares during the period. Brookstone Capital Management purchased a new position in Equinix in the 4th quarter worth approximately $223,000. Czech National Bank boosted its holdings in Equinix by 8.2% in the 4th quarter. Czech National Bank now owns 20,921 shares of the financial services provider’s stock worth $19,726,000 after acquiring an additional 1,580 shares during the period. Finally, Graypoint LLC boosted its holdings in Equinix by 24.6% in the 4th quarter. Graypoint LLC now owns 799 shares of the financial services provider’s stock worth $753,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EQIX shares. The Goldman Sachs Group upped their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Scotiabank upped their target price on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. BMO Capital Markets upped their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Evercore ISI upped their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $976.81.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now owns 8,231 shares of the company’s stock, valued at $7,531,365. This trade represents a 9.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,398 shares of company stock valued at $7,906,218 over the last three months. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $3.72 on Monday, hitting $896.11. The company’s stock had a trading volume of 267,890 shares, compared to its average volume of 450,579. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market capitalization of $86.46 billion, a price-to-earnings ratio of 80.80, a price-to-earnings-growth ratio of 2.48 and a beta of 0.73. The stock’s 50-day moving average is $941.47 and its two-hundred day moving average is $872.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio is 153.65%.

Equinix Company 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.