First National Bank of Mount Dora Trust Investment Services Reduces Stock Position in Equinix, Inc. (NASDAQ:EQIX)

First National Bank of Mount Dora Trust Investment Services lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 8.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,727 shares of the financial services provider’s stock after selling 154 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Equinix were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avanza Fonder AB purchased a new stake in Equinix in the fourth quarter worth approximately $6,758,000. Procyon Advisors LLC boosted its holdings in Equinix by 5.5% in the fourth quarter. Procyon Advisors LLC now owns 307 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 16 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in Equinix in the fourth quarter worth approximately $26,509,000. Retireful LLC purchased a new stake in Equinix in the fourth quarter worth approximately $802,000. Finally, Ritholtz Wealth Management boosted its holdings in Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction dated 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 transaction, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,412 shares of company stock worth $18,826,100 in the last three months. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $915.59 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $88.35 billion, a P/E ratio of 82.56, a P/E/G ratio of 2.12 and a beta of 0.73. The firm’s fifty day moving average is $941.75 and its two-hundred day moving average is $874.79. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. Equinix’s dividend payout ratio is currently 153.65%.

Analyst Upgrades and Downgrades

EQIX has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. TD Cowen lifted their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, Stifel Nicolaus lifted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

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.