Commerce Bank lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,706 shares of the financial services provider's stock after selling 710 shares during the quarter. Commerce Bank's holdings in Equinix were worth $3,290,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of EQIX. Pathway Financial Advisers LLC increased its position in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock valued at $354,111,000 after purchasing an additional 398,494 shares during the last quarter. Swedbank AB purchased a new stake in Equinix during the first quarter valued at approximately $294,526,000. Principal Financial Group Inc. raised its position in Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider's stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Equinix by 104.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock worth $238,133,000 after acquiring an additional 160,906 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Equinix by 21.5% during the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider's stock valued at $682,826,000 after acquiring an additional 159,576 shares during the period. Institutional investors own 94.94% of the company's stock.
A number of equities analysts recently commented on the company. HSBC raised Equinix from a "hold" rating to a "buy" rating and raised their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Stifel Nicolaus lifted their price objective on Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays raised their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. The Goldman Sachs Group upped their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, 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. Five research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $952.88.
Get Our Latest Stock Report on Equinix
Shares of EQIX opened at $936.37 on Friday. The company has a 50-day moving average of $891.74 and a 200 day moving average of $824.67. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The firm has a market capitalization of $90.35 billion, a price-to-earnings ratio of 84.43, a PEG ratio of 2.32 and a beta of 0.71.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. Equinix's payout ratio is currently 153.65%.
In other news, EVP Jonathan Lin sold 93 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company's stock.
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.
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