First National Bank of Mount Dora Trust Investment Services Trims Stake in Equinix, Inc. (NASDAQ:EQIX)

First National Bank of Mount Dora Trust Investment Services reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,727 shares of the financial services provider’s stock after selling 154 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in Equinix were worth $1,628,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Avanza Fonder AB bought a new stake in shares of Equinix during the 4th quarter worth $6,758,000. Procyon Advisors LLC lifted its holdings in shares of Equinix by 5.5% during the 4th quarter. Procyon Advisors LLC now owns 307 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 16 shares during the last quarter. Empirical Asset Management LLC bought a new stake in shares of Equinix during the 4th quarter worth $26,509,000. Retireful LLC bought a new stake in shares of Equinix during the 4th quarter worth $802,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 12 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EQIX shares. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Wells Fargo & Company boosted their price target on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial boosted their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Price Performance

Shares of EQIX opened at $915.59 on Friday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm’s 50-day simple moving average is $941.75 and its two-hundred day simple moving average is $874.79. The stock has a market cap of $88.35 billion, a PE ratio of 82.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Announces Dividend

The firm also recently announced 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 dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is 153.65%.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s 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 transaction, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,412 shares of company stock valued at $18,826,100. Corporate insiders own 0.27% of the company’s stock.

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.