Country Trust Bank Sells 3,922 Shares of Equinix, Inc. (NASDAQ:EQIX)

Country Trust Bank lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 9.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,319 shares of the financial services provider’s stock after selling 3,922 shares during the period. Country Trust Bank’s holdings in Equinix were worth $34,245,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Sugarloaf Wealth Management LLC lifted its stake in shares of Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the period. Dunhill Financial LLC boosted its position in shares of Equinix by 108.7% during the 3rd 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 in the last quarter. Finally, Webster Bank N. A. grew its stake in Equinix by 112.5% during the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 27 shares during the period. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EQIX shares. HSBC raised Equinix from a “hold” rating to a “buy” rating and boosted their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Evercore ISI increased their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Stifel Nicolaus upped their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, JMP Securities started coverage on Equinix in a research note on Monday. They issued an “outperform” rating and a $1,200.00 target price for the company. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.53.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the sale, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares in the company, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,823 shares of company stock valued at $16,474,442 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $922.13 on Friday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. 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 stock has a market cap of $88.98 billion, a PE ratio of 83.15, a price-to-earnings-growth ratio of 2.16 and a beta of 0.73. The stock’s fifty day simple moving average is $943.72 and its two-hundred day simple moving average is $885.47.

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.