Comgest Global Investors S.A.S. Trims Holdings in Equinix, Inc. (NASDAQ:EQIX)

Comgest Global Investors S.A.S. cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 39.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,932 shares of the financial services provider’s stock after selling 1,911 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in Equinix were worth $2,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix during the 2nd quarter valued at about $30,000. LRI Investments LLC purchased a new stake in Equinix during the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. grew its position in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC grew its position in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Equinix during the 2nd quarter valued at about $36,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,654 shares of company stock worth $11,577,656 over the last three months. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EQIX. Evercore ISI increased 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. Scotiabank upped their target price on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Cfra restated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. TD Cowen upped their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $944.63.

Equinix Price Performance

Shares of EQIX stock traded down $0.75 on Friday, reaching $897.37. The company’s stock had a trading volume of 368,707 shares, compared to its average volume of 526,622. The stock’s fifty day simple moving average is $885.56 and its 200-day simple moving average is $816.93. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $86.59 billion, a price-to-earnings ratio of 80.92, a price-to-earnings-growth ratio of 2.26 and a beta of 0.71.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. Equinix’s dividend payout ratio is presently 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.