Evergreen Capital Management LLC Cuts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Evergreen Capital Management LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIXFree Report) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 352 shares of the financial services provider’s stock after selling 13 shares during the quarter. Evergreen Capital Management LLC’s holdings in Equinix were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EQIX. Providence Capital Advisors LLC bought a new stake in shares of Equinix in the 3rd quarter worth about $29,000. Operose Advisors LLC bought a new stake in Equinix during the third quarter worth approximately $36,000. Asset Dedication LLC raised its position in Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 25 shares during the period. Quarry LP lifted its stake in shares of Equinix by 237.5% in the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 38 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Equinix by 48.6% in the 3rd quarter. UMB Bank n.a. now owns 55 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 18 shares during the period. Institutional investors own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial upgraded Equinix from a “hold” rating to a “buy” rating and increased their price target for the company from $871.00 to $915.00 in a report on Tuesday, January 16th. BMO Capital Markets upped their price target on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Oppenheimer raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $875.00 price objective for the company in a research note on Tuesday, November 21st. Barclays cut their target price on Equinix from $788.00 to $781.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. Finally, Wells Fargo & Company raised their price target on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $856.50.

View Our Latest Stock Analysis on EQIX

Insiders Place Their Bets

In other news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares in the company, valued at approximately $1,034,548.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the transaction, the insider now owns 14,067 shares of the company’s stock, valued at approximately $11,252,474.64. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock worth $14,788,771 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $906.06 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. The company has a 50 day moving average price of $838.80 and a 200-day moving average price of $790.96. Equinix, Inc. has a fifty-two week low of $661.66 and a fifty-two week high of $914.93. The stock has a market capitalization of $85.73 billion, a PE ratio of 87.88, a PEG ratio of 2.11 and a beta of 0.59.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 1.88%. Equinix’s dividend payout ratio is currently 165.28%.

Equinix Company Profile

(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.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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