Bank of Montreal Can Sells 4,975 Shares of Equinix, Inc. (NASDAQ:EQIX)

Bank of Montreal Can decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,574 shares of the financial services provider’s stock after selling 4,975 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of Equinix worth $103,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Equinix by 2.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,514 shares of the financial services provider’s stock valued at $2,900,000 after buying an additional 68 shares during the period. iA Global Asset Management Inc. increased its position in Equinix by 10.0% in the 1st quarter. iA Global Asset Management Inc. now owns 11,064 shares of the financial services provider’s stock valued at $9,131,000 after acquiring an additional 1,008 shares during the period. Plato Investment Management Ltd raised its stake in shares of Equinix by 140.0% during the first quarter. Plato Investment Management Ltd now owns 132 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 77 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Equinix during the first quarter worth $103,000. Finally, CCM Investment Advisers LLC acquired a new stake in Equinix in the first quarter valued at $7,454,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated 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 in the company, valued at approximately $6,328,089.60. This trade represents a 44.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the transaction, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on EQIX shares. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and upped their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Truist Financial raised their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. The Goldman Sachs Group upped 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. Barclays lifted their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $952.88.

Equinix Trading Up 0.4 %

NASDAQ:EQIX opened at $978.26 on Wednesday. Equinix, Inc. has a one year low of $684.14 and a one year high of $982.69. The company has a market cap of $94.39 billion, a PE ratio of 88.21, a PEG ratio of 2.41 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50-day moving average of $895.98 and a 200-day moving average of $829.37.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, November 13th. 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.