Equinix, Inc. (NASDAQ:EQIX) Holdings Lowered by Park Place Capital Corp

Park Place Capital Corp trimmed its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 18.1% during the second quarter, Holdings Channel reports. The institutional investor owned 213 shares of the financial services provider’s stock after selling 47 shares during the period. Park Place Capital Corp’s holdings in Equinix were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. DAVENPORT & Co LLC boosted its holdings in shares of Equinix by 6.9% in the fourth quarter. DAVENPORT & Co LLC now owns 327 shares of the financial services provider’s stock worth $264,000 after buying an additional 21 shares during the period. Trust Point Inc. bought a new position in shares of Equinix in the fourth quarter valued at approximately $255,000. Ballentine Partners LLC raised its position in shares of Equinix by 30.8% in the fourth quarter. Ballentine Partners LLC now owns 934 shares of the financial services provider’s stock valued at $752,000 after purchasing an additional 220 shares during the period. SteelPeak Wealth LLC bought a new position in shares of Equinix in the fourth quarter valued at approximately $1,292,000. Finally, International Assets Investment Management LLC bought a new position in Equinix during the fourth quarter worth $408,750,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EQIX. Mizuho initiated coverage on shares of Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 target price on the stock. Royal Bank of Canada lowered their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. TD Cowen lowered their target price on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, The Goldman Sachs Group started coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $871.29.

Equinix Stock Performance

EQIX traded down $26.96 during trading hours on Monday, reaching $779.69. The company’s stock had a trading volume of 249,022 shares, compared to its average volume of 565,737. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company’s 50-day moving average is $771.50 and its 200-day moving average is $796.34. 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 firm has a market cap of $74.00 billion, a PE ratio of 80.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.19%. The ex-dividend date was Tuesday, May 21st. Equinix’s payout ratio is 170.91%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction 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 owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. Company 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.