Covestor Ltd Sells 28 Shares of Equinix, Inc. (NASDAQ:EQIX)

Covestor Ltd decreased its stake in Equinix, Inc. (NASDAQ:EQIX) by 39.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43 shares of the financial services provider’s stock after selling 28 shares during the period. Covestor Ltd’s holdings in Equinix were worth $38,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equinix in the 2nd quarter valued at approximately $30,000. LRI Investments LLC purchased a new position in Equinix during the first quarter worth about $31,000. GHP Investment Advisors Inc. boosted its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Equinix in the second quarter valued at approximately $36,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This represents a 9.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was 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 directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,654 shares of company stock worth $11,577,656. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EQIX shares. Barclays upped their price objective on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. TD Cowen lifted their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Evercore ISI lifted their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Five investment 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 company. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Stock Performance

EQIX opened at $897.37 on Friday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. 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 market cap of $86.59 billion, a P/E ratio of 80.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.71. The firm’s 50-day moving average price is $883.98 and its 200-day moving average price is $815.75.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.90%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

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.