Lazard Asset Management LLC Sells 3,419 Shares of Equinix, Inc. (NASDAQ:EQIX)

Lazard Asset Management LLC lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,288 shares of the financial services provider’s stock after selling 3,419 shares during the quarter. Lazard Asset Management LLC’s holdings in Equinix were worth $4,364,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CNB Bank boosted its holdings in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares in the last quarter. Valley National Advisers Inc. grew its holdings 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 during the period. Criterion Capital Advisors LLC bought a new stake in Equinix in the fourth quarter valued at $32,000. Rise Advisors LLC bought a new position in shares of Equinix during the 1st quarter worth about $39,000. Finally, Rational Advisors LLC acquired a new stake in shares of Equinix in the 1st quarter valued at about $53,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

EQIX traded up $1.84 during midday trading on Monday, hitting $774.27. The stock had a trading volume of 56,326 shares, compared to its average volume of 564,703. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The business has a fifty day moving average of $770.49 and a 200 day moving average of $797.01. The company has a market cap of $73.49 billion, a P/E ratio of 77.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.68.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.20%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Cowen cut their price target on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Mizuho began coverage on shares of Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Barclays lifted their target price on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada lowered their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $875.50.

Insider Transactions at Equinix

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

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.