Dearborn Partners LLC Reduces Stake in Equinix, Inc. (NASDAQ:EQIX)

Dearborn Partners LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,908 shares of the financial services provider’s stock after selling 909 shares during the period. Dearborn Partners LLC’s holdings in Equinix were worth $26,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in Equinix by 8.1% during the third quarter. CIBC Asset Management Inc now owns 13,987 shares of the financial services provider’s stock worth $12,415,000 after purchasing an additional 1,053 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of Equinix during the 3rd quarter worth approximately $224,000. ING Groep NV raised its position in shares of Equinix by 358.2% during the 3rd quarter. ING Groep NV now owns 12,698 shares of the financial services provider’s stock valued at $11,271,000 after buying an additional 9,927 shares during the period. Nicola Wealth Management LTD. raised its position in shares of Equinix by 8.5% during the 3rd quarter. Nicola Wealth Management LTD. now owns 3,301 shares of the financial services provider’s stock valued at $2,930,000 after buying an additional 260 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Equinix by 6.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,670 shares of the financial services provider’s stock valued at $2,370,000 after acquiring an additional 161 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EQIX shares. JPMorgan Chase & Co. raised their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Barclays lifted their price objective on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Truist Financial lifted their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, BMO Capital Markets increased their target price on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $944.63.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,654 shares of company stock worth $11,577,656 in the last quarter. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.3 %

Shares of EQIX opened at $898.12 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02. The stock has a market cap of $86.66 billion, a PE ratio of 80.98, a P/E/G ratio of 2.26 and a beta of 0.71. The stock’s 50-day moving average is $882.45 and its two-hundred day moving average is $815.17.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

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.