Everence Capital Management Inc. Sells 1,380 Shares of Equinix, Inc. (NASDAQ:EQIX)

Everence Capital Management Inc. lowered its holdings in Equinix, Inc. (NASDAQ:EQIX) by 33.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,717 shares of the financial services provider’s stock after selling 1,380 shares during the quarter. Everence Capital Management Inc.’s holdings in Equinix were worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares during the period. Brookfield Corp ON grew its stake in shares of Equinix by 67.3% during the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after acquiring an additional 32,481 shares during the period. E. Ohman J or Asset Management AB increased its holdings in Equinix by 3.0% in the 3rd 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 in the last quarter. Duff & Phelps Investment Management Co. raised its stake in Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after acquiring an additional 75,888 shares during the period. Finally, Thematics Asset Management lifted its holdings in Equinix by 17.7% during the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after purchasing an additional 6,000 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

Shares of Equinix stock traded up $14.91 on Friday, hitting $959.14. 55,971 shares of the company were exchanged, compared to its average volume of 244,378. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a market capitalization of $92.55 billion, a price-to-earnings ratio of 86.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average price of $937.42 and a 200 day moving average price of $863.15.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EQIX. Scotiabank upped their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Truist Financial boosted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. The Goldman Sachs Group boosted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus lifted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets upped their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $976.81.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now owns 8,231 shares in the company, valued at $7,531,365. The trade was a 9.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,398 shares of company stock worth $7,906,218. Company insiders own 0.27% of the company’s stock.

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.