NCP Inc. Sells 50 Shares of Equinix, Inc. (NASDAQ:EQIX)

NCP Inc. cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,800 shares of the financial services provider’s stock after selling 50 shares during the quarter. Equinix makes up about 1.4% of NCP Inc.’s investment portfolio, making the stock its 12th largest position. NCP Inc.’s holdings in Equinix were worth $2,485,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the second quarter valued at about $30,000. LRI Investments LLC purchased a new stake in shares of Equinix during the first quarter valued at approximately $31,000. GHP Investment Advisors Inc. raised its holdings 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 buying an additional 13 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Equinix during the second quarter valued at about $36,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Price Performance

NASDAQ EQIX opened at $978.26 on Wednesday. Equinix, Inc. has a one year low of $684.14 and a one year high of $982.69. The stock has a 50-day moving average of $895.98 and a 200 day moving average of $829.37. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $94.39 billion, a price-to-earnings ratio of 88.21, a PEG ratio of 2.51 and a beta of 0.71.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.74%. Equinix’s dividend payout ratio is presently 153.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EQIX shares. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Mizuho lifted their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Truist Financial increased their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, HSBC raised Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $952.88.

Insider Activity

In related news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at approximately $5,862,689.59. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock valued at $11,666,756 over the last three months. Insiders own 0.27% of the company’s stock.

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.