LGT Group Foundation Has $28.36 Million Position in Equinix, Inc. (NASDAQ:EQIX)

LGT Group Foundation lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 34,830 shares of the financial services provider’s stock after selling 1,844 shares during the period. LGT Group Foundation’s holdings in Equinix were worth $28,355,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Valley National Advisers Inc. raised its position in Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in Equinix in the third quarter worth about $29,000. Criterion Capital Advisors LLC acquired a new position in Equinix in the fourth quarter worth about $32,000. Operose Advisors LLC acquired a new position in Equinix in the third quarter worth about $36,000. Finally, Asset Dedication LLC raised its position in Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Up 0.2 %

EQIX stock traded up $1.30 during midday trading on Thursday, reaching $696.63. The company’s stock had a trading volume of 186,871 shares, compared to its average volume of 581,985. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93. The stock has a market cap of $65.92 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.62. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The business’s 50-day simple moving average is $814.64 and its 200-day simple moving average is $802.31.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.45%. Equinix’s dividend payout ratio is 165.28%.

Insider Transactions at Equinix

In related news, CFO Keith D. Taylor sold 1,164 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the sale, the chief financial officer now directly owns 23,187 shares in the company, valued at $19,314,307.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the sale, the chief executive officer now directly owns 10,115 shares in the company, valued at approximately $8,422,659.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 1,164 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the sale, the chief financial officer now owns 23,187 shares in the company, valued at $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,585 shares of company stock valued at $3,818,268 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EQIX shares. Morgan Stanley dropped their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Oppenheimer raised their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. BMO Capital Markets raised their price objective on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, Barclays dropped their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $862.50.

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.