M&T Bank Corp Trims Position in Equinix, Inc. (NASDAQ:EQIX)

M&T Bank Corp lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,699 shares of the financial services provider’s stock after selling 92 shares during the quarter. M&T Bank Corp’s holdings in Equinix were worth $13,048,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its position 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 acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its position 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. Meeder Asset Management Inc. acquired a new stake in shares of Equinix during the second quarter valued at approximately $36,000. Sugarloaf Wealth Management LLC increased its holdings 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. Finally, Dunhill Financial LLC raised its holdings in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Equinix news, 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 transaction of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was 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 in the company, valued at $7,531,365. The trade was a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EQIX shares. Royal Bank of Canada increased their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Barclays increased their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Finally, HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Stock Performance

NASDAQ EQIX opened at $927.22 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The business has a 50 day simple moving average of $926.56 and a two-hundred day simple moving average of $852.37. The stock has a market capitalization of $89.47 billion, a PE ratio of 83.61, a P/E/G ratio of 2.51 and a beta of 0.72.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 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.