Montecito Bank & Trust Purchases 13 Shares of Equinix, Inc. (NASDAQ:EQIX)

Montecito Bank & Trust boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 436 shares of the financial services provider’s stock after buying an additional 13 shares during the quarter. Montecito Bank & Trust’s holdings in Equinix were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Evergreen Capital Management LLC raised its stake in Equinix by 17.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 61 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Equinix by 2.4% during the 2nd quarter. AQR Capital Management LLC now owns 27,497 shares of the financial services provider’s stock valued at $20,793,000 after purchasing an additional 647 shares during the last quarter. MBB Public Markets I LLC grew its holdings in Equinix by 1,430.0% during the 2nd quarter. MBB Public Markets I LLC now owns 6,671 shares of the financial services provider’s stock valued at $5,047,000 after buying an additional 6,235 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Equinix by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 66,486 shares of the financial services provider’s stock valued at $50,303,000 after purchasing an additional 432 shares in the last quarter. Finally, Makena Capital Management LLC bought a new position in Equinix during the second quarter valued at $12,882,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on EQIX. Royal Bank of Canada increased their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Scotiabank boosted their target price on Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and increased their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $984.88.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares in the company, valued at approximately $5,886,959.95. This trade represents a 20.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,549 shares of company stock worth $18,036,455. 0.27% of the stock is currently owned by corporate insiders.

Equinix Price Performance

EQIX opened at $940.85 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The business’s fifty day simple moving average is $943.64 and its 200-day simple moving average is $880.78. The company has a market capitalization of $90.78 billion, a price-to-earnings ratio of 84.84, a PEG ratio of 2.20 and a beta of 0.73. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 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.