Summit Investment Advisors Inc. Sells 22 Shares of Equinix, Inc. (NASDAQ:EQIX)

Summit Investment Advisors Inc. trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,140 shares of the financial services provider’s stock after selling 22 shares during the period. Summit Investment Advisors Inc.’s holdings in Equinix were worth $1,075,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of EQIX. Norges Bank bought a new position in shares of Equinix in the fourth quarter worth about $1,067,270,000. Wellington Management Group LLP increased its position in shares of Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock worth $1,701,188,000 after acquiring an additional 401,991 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Equinix in the fourth quarter valued at approximately $328,899,000. Proficio Capital Partners LLC bought a new position in Equinix in the fourth quarter worth approximately $246,000. Finally, JPMorgan Chase & Co. raised its position in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $790.15 on Friday. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $77.29 billion, a P/E ratio of 92.42, a P/E/G ratio of 1.78 and a beta of 0.95. The business’s 50 day moving average price is $850.84 and its 200 day moving average price is $898.09.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.37%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is 219.42%.

Analyst Ratings Changes

Several equities analysts have recently commented on EQIX shares. Barclays raised their price target on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Truist Financial dropped their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Mizuho decreased their price objective on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research note on Friday, March 28th. Finally, Citigroup reduced their target price on shares of Equinix from $1,020.00 to $970.00 and set a “buy” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $1,005.50.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is owned by company insiders.

Equinix Company 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.