Montecito Bank & Trust Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Montecito Bank & Trust lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436 shares of the financial services provider’s stock after buying an additional 13 shares during the period. Montecito Bank & Trust’s holdings in Equinix were worth $411,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EQIX. Evergreen Capital Management LLC grew its stake in shares of Equinix by 17.0% during the second quarter. Evergreen Capital Management LLC now owns 419 shares of the financial services provider’s stock valued at $317,000 after buying an additional 61 shares during the last quarter. AQR Capital Management LLC grew its position in Equinix by 2.4% during the 2nd quarter. AQR Capital Management LLC now owns 27,497 shares of the financial services provider’s stock worth $20,793,000 after acquiring an additional 647 shares during the last quarter. MBB Public Markets I LLC increased its stake in Equinix by 1,430.0% in the 2nd quarter. MBB Public Markets I LLC now owns 6,671 shares of the financial services provider’s stock worth $5,047,000 after purchasing an additional 6,235 shares during the period. The Manufacturers Life Insurance Company lifted its position in Equinix by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 66,486 shares of the financial services provider’s stock valued at $50,303,000 after purchasing an additional 432 shares during the last quarter. Finally, Makena Capital Management LLC purchased a new stake in shares of Equinix during the second quarter valued at approximately $12,882,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HSBC upgraded shares of 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 report on Friday, October 4th. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Barclays raised their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Stifel Nicolaus upped their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $984.88.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,549 shares of company stock valued at $18,036,455. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $940.85 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50 day simple moving average of $943.64 and a two-hundred day simple moving average of $880.78. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a market capitalization of $90.78 billion, a price-to-earnings ratio of 84.84, a P/E/G ratio of 2.20 and a beta of 0.73.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

About Equinix

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.