Apollon Wealth Management LLC Lowers Position in Equinix, Inc. (NASDAQ:EQIX)

Apollon Wealth Management LLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,125 shares of the financial services provider’s stock after selling 55 shares during the quarter. Apollon Wealth Management LLC’s holdings in Equinix were worth $998,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BDF Gestion purchased a new position in shares of Equinix in the second quarter worth $2,659,000. Van ECK Associates Corp lifted its holdings in shares of Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after buying an additional 1,716 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after buying an additional 1,380 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in shares of Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after buying an additional 1,103 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after buying an additional 75,888 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 0.1 %

NASDAQ EQIX opened at $897.37 on Friday. The company’s 50-day moving average price is $883.98 and its 200-day moving average price is $815.75. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market cap of $86.59 billion, a PE ratio of 80.92, a PEG ratio of 2.26 and a beta of 0.71. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02.

Equinix Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is presently 153.65%.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. This represents a 17.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now owns 6,505 shares in the company, valued at approximately $5,886,959.95. The trade was a 20.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,654 shares of company stock worth $11,577,656. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent research reports. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and upped their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Wells Fargo & Company upped their price target on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. TD Cowen upped their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets upped their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

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.