Chevy Chase Trust Holdings LLC Has $45.19 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Chevy Chase Trust Holdings LLC cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 50,905 shares of the financial services provider’s stock after selling 908 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Equinix were worth $45,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after buying an additional 813,666 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Equinix by 21.5% in the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after buying an additional 159,576 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This represents a 44.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX opened at $964.84 on Tuesday. 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 stock has a market capitalization of $93.10 billion, a P/E ratio of 87.00, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The company’s 50 day simple moving average is $902.59 and its 200-day simple moving average is $833.34. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. Equinix’s payout ratio is 153.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. 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. BMO Capital Markets lifted their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, Mizuho upped their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Five equities research 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 data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average target price of $962.56.

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.