Sumitomo Life Insurance Co. decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,599 shares of the financial services provider’s stock after selling 51 shares during the period. Sumitomo Life Insurance Co.’s holdings in Equinix were worth $1,508,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. boosted its holdings in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares in the last quarter. Dunhill Financial LLC increased its stake in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Webster Bank N. A. raised its holdings in Equinix by 112.5% in the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on EQIX. Barclays boosted their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Wells Fargo & Company boosted their price objective on Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. JMP Securities initiated coverage on Equinix in a report on Monday. They set an “outperform” rating and a $1,200.00 target price on the stock. BMO Capital Markets boosted their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $997.53.
Insider Buying and Selling at Equinix
In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now directly owns 6,505 shares in the company, valued at approximately $5,886,959.95. The trade was a 20.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,549 shares of company stock valued at $18,036,455 in the last quarter. Corporate insiders own 0.27% of the company’s stock.
Equinix Stock Performance
Shares of NASDAQ EQIX opened at $908.23 on Thursday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a market cap of $87.64 billion, a PE ratio of 81.90, a P/E/G ratio of 2.20 and a beta of 0.73. The stock has a 50 day simple moving average of $944.00 and a 200-day simple moving average of $885.05. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.
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.
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