Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Coastline Trust Co

Coastline Trust Co reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 82.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 75 shares of the financial services provider’s stock after selling 346 shares during the period. Coastline Trust Co’s holdings in Equinix were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. BDF Gestion purchased a new position in shares of Equinix during the 2nd quarter worth approximately $2,659,000. Van ECK Associates Corp lifted its holdings in Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after acquiring an additional 1,716 shares during the period. Bessemer Group Inc. boosted its position in shares of Equinix by 159.4% during the 1st quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 1,380 shares in the last quarter. E. Ohman J or Asset Management AB grew its stake in shares of Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares during the period. Finally, Duff & Phelps Investment Management Co. increased its holdings in shares of Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after purchasing an additional 75,888 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on EQIX. Wells Fargo & Company upped their target price on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. BMO Capital Markets lifted their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Barclays increased 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. Five 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 stock. Based on data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 8.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The trade was a 99.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,654 shares of company stock worth $11,577,656 over the last three months. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

Shares of EQIX stock opened at $897.37 on Friday. The firm 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. The company has a 50 day moving average price of $885.56 and a 200 day moving average price of $817.67. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02. 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 company also recently announced 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. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Equinix 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.