Smithbridge Asset Management Inc. DE Reduces Position in Equinix, Inc. (NASDAQ:EQIX)

Smithbridge Asset Management Inc. DE cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 797 shares of the financial services provider’s stock after selling 17 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Equinix were worth $642,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Providence Capital Advisors LLC purchased a new stake in Equinix in the third quarter valued at $29,000. Operose Advisors LLC purchased a new stake in Equinix in the third quarter valued at $36,000. Asset Dedication LLC boosted its holdings in Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 25 shares during the last quarter. Quarry LP boosted its holdings in Equinix by 237.5% in the first quarter. Quarry LP now owns 54 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 38 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Equinix by 48.6% in the third quarter. UMB Bank n.a. now owns 55 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 18 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Price Performance

EQIX stock traded up $9.47 during mid-day trading on Thursday, reaching $824.78. The company’s stock had a trading volume of 398,154 shares, compared to its average volume of 554,226. The stock has a market cap of $78.04 billion, a PE ratio of 79.08, a P/E/G ratio of 1.91 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93. The company’s 50 day moving average is $849.93 and its two-hundred day moving average is $798.15.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.07%. Equinix’s payout ratio is 165.28%.

Analyst Ratings Changes

Several research firms have recently issued reports on EQIX. KeyCorp began coverage on shares of Equinix in a research note on Wednesday, December 6th. They set a “sector weight” rating on the stock. Morgan Stanley lowered their target price on shares of Equinix from $785.00 to $767.00 and set an “equal weight” rating on the stock in a research note on Friday, December 8th. BMO Capital Markets increased their target price on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. TheStreet raised shares of Equinix from a “c+” rating to a “b-” rating in a research note on Wednesday, November 29th. Finally, Wells Fargo & Company increased their target price on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average price target of $869.00.

Insider Buying and Selling at Equinix

In other news, CEO Charles J. Meyers sold 7,174 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $800.18, for a total transaction of $5,740,491.32. Following the completion of the sale, the chief executive officer now owns 16,360 shares in the company, valued at approximately $13,090,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Charles J. Meyers sold 7,174 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $800.18, for a total transaction of $5,740,491.32. Following the completion of the sale, the chief executive officer now owns 16,360 shares in the company, valued at approximately $13,090,944.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 1,164 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the sale, the chief financial officer now owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,282 shares of company stock worth $14,788,771. Insiders own 0.32% of the company’s stock.

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.