Fulton Bank N.A. Grows Holdings in Equinix, Inc. (NASDAQ:EQIX)

Fulton Bank N.A. boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 134.5% in the fourth quarter, HoldingsChannel reports. The fund owned 605 shares of the financial services provider’s stock after acquiring an additional 347 shares during the period. Fulton Bank N.A.’s holdings in Equinix were worth $570,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Van ECK Associates Corp boosted its position in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares in the last quarter. Brookfield Corp ON boosted its holdings in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after acquiring an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after acquiring an additional 1,103 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Equinix by 25.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after acquiring an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management raised its position in shares of Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Mizuho boosted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Three 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $976.81.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This represents a 9.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

Shares of Equinix stock opened at $951.04 on Friday. The stock’s fifty day moving average is $941.24 and its 200 day moving average is $869.42. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $91.77 billion, a P/E ratio of 85.76, a P/E/G ratio of 2.48 and a beta of 0.72.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.79%. Equinix’s dividend payout ratio (DPR) is presently 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.