Dearborn Partners LLC Sells 909 Shares of Equinix, Inc. (NASDAQ:EQIX)

Dearborn Partners LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,908 shares of the financial services provider’s stock after selling 909 shares during the period. Dearborn Partners LLC’s holdings in Equinix were worth $26,547,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in Equinix by 8.1% in the third quarter. CIBC Asset Management Inc now owns 13,987 shares of the financial services provider’s stock worth $12,415,000 after acquiring an additional 1,053 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Equinix in the 3rd quarter worth approximately $224,000. ING Groep NV grew its position in Equinix by 358.2% during the 3rd quarter. ING Groep NV now owns 12,698 shares of the financial services provider’s stock worth $11,271,000 after purchasing an additional 9,927 shares during the last quarter. Nicola Wealth Management LTD. increased its stake in Equinix by 8.5% during the 3rd quarter. Nicola Wealth Management LTD. now owns 3,301 shares of the financial services provider’s stock valued at $2,930,000 after purchasing an additional 260 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Equinix by 6.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,670 shares of the financial services provider’s stock worth $2,370,000 after buying an additional 161 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Cfra restated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $944.63.

Insider Activity at Equinix

In other news, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Simon Miller sold 569 shares of the business’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 in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,654 shares of company stock valued at $11,577,656. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.3 %

Shares of EQIX stock opened at $898.12 on Friday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The company has a market cap of $86.66 billion, a price-to-earnings ratio of 80.98, a PEG ratio of 2.26 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a 50 day simple moving average of $882.45 and a 200-day simple moving average of $815.17.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

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.