Community Trust & Investment Co. Lowers Position in Equinix, Inc. $EQIX

Community Trust & Investment Co. trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 31.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,953 shares of the financial services provider’s stock after selling 1,348 shares during the quarter. Community Trust & Investment Co.’s holdings in Equinix were worth $3,078,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC increased its holdings in shares of Equinix by 3.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider’s stock valued at $85,833,000 after purchasing an additional 4,241 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Equinix by 6.3% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider’s stock worth $40,043,000 after buying an additional 3,108 shares in the last quarter. Legal & General Group Plc boosted its holdings in Equinix by 10.5% during the fourth quarter. Legal & General Group Plc now owns 1,235,674 shares of the financial services provider’s stock worth $946,724,000 after buying an additional 117,101 shares in the last quarter. LBP AM SA grew its position in Equinix by 3.5% during the fourth quarter. LBP AM SA now owns 69,066 shares of the financial services provider’s stock worth $52,916,000 after buying an additional 2,343 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Equinix by 5,149.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 128,097 shares of the financial services provider’s stock valued at $98,143,000 after buying an additional 125,657 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Down 1.0%

Shares of Equinix stock opened at $1,042.62 on Friday. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day moving average price of $1,050.68 and a 200 day moving average price of $1,003.71. The company has a market capitalization of $102.88 billion, a P/E ratio of 67.14, a P/E/G ratio of 1.50 and a beta of 0.99.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, August 19th. Equinix’s payout ratio is 132.90%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EQIX. Royal Bank Of Canada lifted their price target on shares of Equinix from $1,125.00 to $1,225.00 and gave the company an “outperform” rating in a research report on Wednesday. Weiss Ratings downgraded Equinix from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Raymond James Financial upgraded Equinix from a “market perform” rating to a “strong-buy” rating and set a $1,250.00 target price on the stock in a research report on Thursday, April 30th. Wells Fargo & Company upped their target price on Equinix from $975.00 to $1,200.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $1,340.00 price target on shares of Equinix in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,196.20.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 4,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the sale, the director directly owned 13,859 shares in the company, valued at $14,126,201.52. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the sale, the executive vice president directly owned 5,728 shares in the company, valued at approximately $6,206,116.16. The trade was a 26.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,891 shares of company stock valued at $10,430,452 over the last three months. 0.27% of the stock is currently owned by insiders.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.