Everence Capital Management Inc. Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

Everence Capital Management Inc. lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,717 shares of the financial services provider’s stock after selling 1,380 shares during the period. Everence Capital Management Inc.’s holdings in Equinix were worth $2,562,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its position in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Meeder Asset Management Inc. bought a new position in Equinix in the second quarter worth about $36,000. Sugarloaf Wealth Management LLC grew its stake in Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares during the last quarter. Finally, Dunhill Financial LLC increased its stake in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EQIX shares. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial upped their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised 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. Three investment 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. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Stock Performance

Shares of NASDAQ EQIX traded up $14.91 during mid-day trading on Friday, hitting $959.14. The company had a trading volume of 55,971 shares, compared to its average volume of 244,378. The stock’s 50-day moving average price is $937.42 and its 200-day moving average price is $863.15. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a market capitalization of $92.55 billion, a price-to-earnings ratio of 86.49, a P/E/G ratio of 2.51 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.78%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,398 shares of company stock worth $7,906,218 in the last ninety days. 0.27% of the stock is owned by company insiders.

About Equinix

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.