LGT Group Foundation Decreases Holdings in Equinix, Inc. (NASDAQ:EQIX)

LGT Group Foundation trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,830 shares of the financial services provider’s stock after selling 1,844 shares during the period. LGT Group Foundation’s holdings in Equinix were worth $28,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Aew Capital Management L P lifted its holdings in shares of Equinix by 0.8% in the 4th quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock valued at $250,286,000 after purchasing an additional 2,503 shares during the last quarter. Braun Stacey Associates Inc. lifted its holdings in shares of Equinix by 12.5% in the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after purchasing an additional 3,591 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Equinix by 9.8% in the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock valued at $109,459,000 after purchasing an additional 12,129 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in Equinix by 127.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock valued at $1,130,000 after acquiring an additional 787 shares during the last quarter. Finally, TIAA Trust National Association raised its stake in Equinix by 126.8% during the 4th quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock valued at $3,417,000 after acquiring an additional 2,372 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Price Performance

NASDAQ:EQIX traded up $1.30 during trading hours on Thursday, reaching $696.63. 186,871 shares of the company traded hands, compared to its average volume of 581,985. The firm’s 50-day moving average is $814.64 and its 200-day moving average is $802.31. The stock has a market cap of $65.92 billion, a P/E ratio of 67.44, a P/E/G ratio of 1.83 and a beta of 0.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Analyst Ratings Changes

EQIX has been the subject of several analyst reports. Oppenheimer upped their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial upped their price objective on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada upped their price objective on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Finally, HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research note on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $862.50.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now directly owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,585 shares of company stock worth $3,818,268. 0.27% of the stock is owned by insiders.

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.