Smithfield Trust Co Sells 29 Shares of Equinix, Inc. (NASDAQ:EQIX)

Smithfield Trust Co trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 396 shares of the financial services provider’s stock after selling 29 shares during the period. Smithfield Trust Co’s holdings in Equinix were worth $349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have 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 approximately $30,000. LRI Investments LLC bought a new stake in shares of Equinix during the first quarter worth $31,000. GHP Investment Advisors Inc. boosted its stake in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC grew its holdings 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 worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Equinix in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several research reports. TD Cowen raised their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Evercore ISI upped their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank lifted their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $925.72 on Friday. The firm has a 50-day simple moving average of $890.45 and a 200-day simple moving average of $822.99. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $89.32 billion, a price-to-earnings ratio of 83.47, a price-to-earnings-growth ratio of 2.32 and a beta of 0.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $943.02.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 44.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock worth $11,666,756 in the last quarter. 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.