Gateway Investment Advisers LLC Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

[ad_1]

Gateway Investment Advisers LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 620 shares of the financial services provider’s stock after selling 34 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Equinix were worth $585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. Hennion & Walsh Asset Management Inc. raised its stake in Equinix by 20.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,607 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 271 shares in the last quarter. USA Financial Formulas purchased a new stake in Equinix during the fourth quarter worth approximately $342,000. Moseley Investment Management Inc. boosted its holdings in Equinix by 17.2% in the fourth quarter. Moseley Investment Management Inc. now owns 668 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 98 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Equinix by 31.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 63 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 15 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in Equinix by 10.3% during the fourth quarter. Park Avenue Securities LLC now owns 1,898 shares of the financial services provider’s stock worth $1,790,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EQIX. Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. 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 research note on Thursday, October 31st. Finally, Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $976.81.

Want More Great Investing Ideas?

Check Out Our Latest Analysis on EQIX

Equinix Stock Performance

Shares of EQIX opened at $915.59 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a 50-day simple moving average of $941.64 and a 200-day simple moving average of $875.87. The company has a market capitalization of $88.35 billion, a PE ratio of 82.56, a P/E/G ratio of 2.12 and a beta of 0.73.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity

In other news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction on Friday, November 8th. The stock was 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 owns 4,893 shares of the company’s stock, valued at $4,518,979.08. The trade was a 17.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the sale, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,412 shares of company stock worth $18,826,100. Company insiders own 0.27% of the company’s stock.

About Equinix

(Free Report)

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.