Prudent Man Advisors LLC Sells 22 Shares of Equinix, Inc. (NASDAQ:EQIX)

Prudent Man Advisors LLC reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,522 shares of the financial services provider’s stock after selling 22 shares during the period. Prudent Man Advisors LLC’s holdings in Equinix were worth $1,351,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Equinix by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares during the period. Dimensional Fund Advisors LP lifted its stake in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after buying an additional 19,844 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Equinix by 21.5% during the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after buying an additional 159,576 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Equinix by 7.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock valued at $665,807,000 after acquiring an additional 59,343 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Equinix

In other news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This represents a 17.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,654 shares of company stock valued at $11,577,656. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on EQIX. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. TD Cowen raised their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays upped their target price on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Trading Down 0.1 %

Shares of EQIX stock opened at $897.37 on Monday. 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 $86.59 billion, a price-to-earnings ratio of 80.92, a PEG ratio of 2.25 and a beta of 0.71. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The company has a 50-day simple moving average of $885.56 and a two-hundred day simple moving average of $818.53.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

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.