Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.9% during the first quarter, Holdings Channel reports. The firm owned 8,600 shares of the financial services provider’s stock after selling 1,500 shares during the period. Gabelli Funds LLC’s holdings in Equinix were worth $7,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CNB Bank increased its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the period. Valley National Advisers Inc. increased its position in Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Equinix in the 4th quarter valued at approximately $32,000. Rise Advisors LLC acquired a new stake in Equinix in the 1st quarter valued at approximately $39,000. Finally, Rational Advisors LLC acquired a new stake in Equinix in the 1st quarter valued at approximately $53,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the sale, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Up 0.4 %

Shares of EQIX traded up $3.12 during mid-day trading on Friday, reaching $772.43. The company’s stock had a trading volume of 541,016 shares, compared to its average volume of 366,784. The business has a fifty day moving average of $770.49 and a 200 day moving average of $797.07. The company has a market cap of $73.31 billion, a price-to-earnings ratio of 77.48, a price-to-earnings-growth ratio of 2.66 and a beta of 0.68. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.21%. Equinix’s dividend payout ratio is 170.91%.

Wall Street Analyst Weigh In

Several analysts recently commented on EQIX shares. The Goldman Sachs Group started coverage on Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price on the stock. TD Cowen decreased their price target on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Barclays increased their price target on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $825.00 to $875.00 in a research note on Tuesday. Finally, Mizuho initiated coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $875.50.

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.