Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 91.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,078 shares of the financial services provider’s stock after selling 11,956 shares during the period. Quantbot Technologies LP’s holdings in Equinix were worth $957,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in EQIX. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the second quarter valued at about $30,000. GHP Investment Advisors Inc. grew its position 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 acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its stake 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 valued at $35,000 after purchasing an additional 13 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the second quarter valued at approximately $36,000. Finally, Sugarloaf Wealth Management LLC boosted its stake in shares of Equinix by 100.0% in the third 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. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This represents a 44.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock valued at $11,666,756 over the last three months. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

EQIX has been the topic of several analyst reports. BMO Capital Markets lifted their price target 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. Wells Fargo & Company lifted their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. HSBC raised Equinix from a “hold” rating to a “buy” rating and increased their price target for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Evercore ISI lifted their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $962.56.

Equinix Stock Performance

Shares of EQIX stock opened at $981.48 on Monday. The company has a market cap of $94.70 billion, a P/E ratio of 88.50, a PEG ratio of 2.53 and a beta of 0.71. The business has a 50 day moving average of $902.59 and a two-hundred day moving average of $833.34. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. Equinix’s payout ratio is currently 153.65%.

Equinix Company 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.