Equinix, Inc. $EQIX Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 62.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,952 shares of the financial services provider’s stock after selling 14,944 shares during the quarter. Keybank National Association OH’s holdings in Equinix were worth $7,012,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in Equinix by 298,148.6% in the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock worth $6,488,728,000 after acquiring an additional 8,154,365 shares during the last quarter. Norges Bank acquired a new stake in shares of Equinix in the 2nd quarter valued at $892,431,000. Vanguard Group Inc. lifted its position in shares of Equinix by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after purchasing an additional 222,221 shares during the last quarter. State Street Corp lifted its position in shares of Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after purchasing an additional 220,981 shares during the last quarter. Finally, ABN AMRO Bank N.V. acquired a new position in shares of Equinix during the second quarter worth $172,581,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Equinix

In related news, insider Kurt Pletcher sold 596 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $477,860.88. Following the completion of the sale, the insider owned 3,195 shares in the company, valued at $2,561,687.10. This represents a 15.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith D. Taylor sold 2,051 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the transaction, the chief financial officer directly owned 26,373 shares in the company, valued at $21,208,375.41. The trade was a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 19,490 shares of company stock worth $15,281,999 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $820.93 on Monday. The stock has a market cap of $80.61 billion, a P/E ratio of 75.18, a P/E/G ratio of 1.28 and a beta of 1.06. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $953.41. The stock has a 50 day moving average of $769.84 and a two-hundred day moving average of $784.99. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Analysts Set New Price Targets

A number of analysts have weighed in on EQIX shares. Zacks Research cut Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research report on Thursday, January 22nd. HSBC set a $1,050.00 price target on Equinix and gave the company a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. raised their price objective on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Morgan Stanley began coverage on shares of Equinix in a research report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $959.64.

Equinix Company 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.