Cigna Investments Inc. New Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

Cigna Investments Inc. New lowered its holdings in Equinix, Inc. (NASDAQ:EQIXGet Rating) by 25.1% during the second quarter, Holdings Channel.com reports. The firm owned 1,188 shares of the financial services provider’s stock after selling 399 shares during the period. Cigna Investments Inc. New’s holdings in Equinix were worth $781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Equinix by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 11,930,683 shares of the financial services provider’s stock valued at $8,848,034,000 after buying an additional 228,639 shares during the period. State Street Corp raised its holdings in shares of Equinix by 11.7% in the 2nd quarter. State Street Corp now owns 6,008,037 shares of the financial services provider’s stock valued at $3,947,400,000 after buying an additional 630,477 shares during the period. FMR LLC raised its holdings in shares of Equinix by 16.0% in the 2nd quarter. FMR LLC now owns 1,815,330 shares of the financial services provider’s stock valued at $1,192,709,000 after buying an additional 250,501 shares during the period. APG Asset Management US Inc. raised its holdings in shares of Equinix by 3.8% in the 1st quarter. APG Asset Management US Inc. now owns 1,578,302 shares of the financial services provider’s stock valued at $1,170,500,000 after buying an additional 58,502 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Equinix by 3.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,388,763 shares of the financial services provider’s stock valued at $912,445,000 after buying an additional 43,278 shares during the period. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 65 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $549.83, for a total value of $35,738.95. Following the completion of the sale, the insider now directly owns 17,285 shares of the company’s stock, valued at approximately $9,503,811.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Brandi Galvin Morandi sold 65 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $549.83, for a total value of $35,738.95. Following the completion of the sale, the insider now directly owns 17,285 shares of the company’s stock, valued at approximately $9,503,811.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 2,500 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $699.90, for a total value of $1,749,750.00. Following the sale, the chief financial officer now directly owns 18,700 shares of the company’s stock, valued at $13,088,130. The disclosure for this sale can be found here. Insiders sold a total of 2,691 shares of company stock valued at $1,870,388 in the last three months. 0.32% of the stock is currently owned by company insiders.

Equinix Stock Down 0.3 %

Shares of NASDAQ EQIX opened at $683.34 on Friday. The stock has a market cap of $63.24 billion, a PE ratio of 89.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.59. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.30. Equinix, Inc. has a 52-week low of $494.89 and a 52-week high of $853.42. The business has a 50-day moving average price of $602.26 and a 200 day moving average price of $638.38.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 16th will be given a $3.10 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $12.40 dividend on an annualized basis and a dividend yield of 1.81%. Equinix’s dividend payout ratio (DPR) is presently 162.09%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EQIX. Cowen cut their price objective on Equinix to $726.00 in a report on Thursday, October 20th. The Goldman Sachs Group cut their price target on Equinix from $765.00 to $670.00 and set a “buy” rating on the stock in a report on Wednesday, October 12th. Morgan Stanley cut their price target on Equinix from $732.00 to $704.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 26th. Barclays downgraded Equinix from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $833.00 to $674.00 in a report on Friday, September 23rd. Finally, StockNews.com downgraded Equinix from a “buy” rating to a “hold” rating in a report on Wednesday, November 23rd. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $751.18.

Equinix Profile

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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.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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