First Hawaiian Bank Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

First Hawaiian Bank cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 21.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 494 shares of the financial services provider’s stock after selling 135 shares during the quarter. First Hawaiian Bank’s holdings in Equinix were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. GHP Investment Advisors Inc. boosted its stake in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its position in Equinix by 50.0% in 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 last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of Equinix by 100.0% during 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. Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the 2nd quarter valued at about $36,000. Finally, Dunhill Financial LLC lifted its stake in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the sale, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,398 shares of company stock worth $7,906,218. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $899.83 on Friday. The firm has a market cap of $86.82 billion, a PE ratio of 81.14, a PEG ratio of 2.48 and a beta of 0.73. The stock has a 50 day moving average of $941.47 and a 200 day moving average of $871.34. 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, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQIX. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Truist Financial raised their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Wells Fargo & Company boosted their price target on Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. TD Cowen upped their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

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.