Tobam Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Tobam lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 17.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 131 shares of the financial services provider’s stock after selling 28 shares during the quarter. Tobam’s holdings in Equinix were worth $124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQIX. State Street Corp increased its holdings in Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. increased its stake in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position 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 purchasing an additional 53,729 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX opened at $933.27 on Friday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company’s 50 day simple moving average is $939.33 and its 200 day simple moving average is $889.81. The stock has a market capitalization of $90.05 billion, a PE ratio of 84.15, a P/E/G ratio of 2.18 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at $20,085,186.32. The trade was a 12.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now directly owns 1,015 shares of the company’s stock, valued at approximately $976,633. This trade represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,801 shares of company stock valued at $15,530,564 over the last quarter. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EQIX shares. Stifel Nicolaus raised 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. Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their price target on shares of Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating on the stock in a research report on Tuesday. TD Cowen lifted their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Scotiabank upped their target price on Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $996.06.

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.