Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 38.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,519 shares of the financial services provider’s stock after selling 44,216 shares during the quarter. Citigroup Inc.’s holdings in Equinix were worth $61,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EQIX. Pathway Financial Advisers LLC grew its position in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after buying an additional 398,494 shares during the last quarter. Swedbank AB acquired a new position in Equinix during the 1st quarter valued at about $294,526,000. Principal Financial Group Inc. lifted its stake in shares of Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock worth $238,133,000 after acquiring an additional 160,906 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in Equinix by 21.5% during the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after purchasing an additional 159,576 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $936.37 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $891.74 and its two-hundred day simple moving average is $825.46. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The stock has a market cap of $90.35 billion, a PE ratio of 84.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.71.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EQIX. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Truist Financial upped their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Barclays raised their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Stifel Nicolaus raised their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Five 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $952.88.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 8.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The trade was a 44.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock valued at $11,666,756 in the last ninety days. 0.27% of the stock is currently owned by insiders.

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.