First Fiduciary Investment Counsel Inc. Acquires 555 Shares of Equinix, Inc. (NASDAQ:EQIX)

First Fiduciary Investment Counsel Inc. boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 8.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,804 shares of the financial services provider’s stock after buying an additional 555 shares during the quarter. First Fiduciary Investment Counsel Inc.’s holdings in Equinix were worth $6,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EQIX. GHP Investment Advisors Inc. boosted its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC boosted its stake in Equinix by 50.0% in the 3rd 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 period. Dunhill Financial LLC boosted its stake in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Webster Bank N. A. boosted its position in shares of Equinix by 112.5% during the 3rd quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 27 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in shares of Equinix during the 4th quarter valued at about $47,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other news, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. The trade was a 12.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,801 shares of company stock worth $15,530,564 in the last quarter. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Up 1.1 %

Shares of EQIX opened at $943.14 on Tuesday. The business’s 50 day moving average is $938.36 and its 200 day moving average is $892.05. The company has a market capitalization of $91.00 billion, a PE ratio of 85.04, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Evercore ISI lifted their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company decreased their price target on Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays lifted their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Scotiabank lifted their price target on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research note on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $996.06.

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.