AIA Group Ltd Sells 92 Shares of Equinix, Inc. (NASDAQ:EQIX)

AIA Group Ltd cut its position in Equinix, Inc. (NASDAQ:EQIX) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,051 shares of the financial services provider’s stock after selling 92 shares during the quarter. AIA Group Ltd’s holdings in Equinix were worth $1,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Equinix during the 4th quarter valued at $17,316,000. Guidance Capital Inc. lifted its position in shares of Equinix by 13.7% during the 4th quarter. Guidance Capital Inc. now owns 899 shares of the financial services provider’s stock valued at $729,000 after acquiring an additional 108 shares during the period. Scissortail Wealth Management LLC bought a new stake in shares of Equinix during the 4th quarter valued at $603,000. Wealth Alliance lifted its position in shares of Equinix by 14.2% during the 4th quarter. Wealth Alliance now owns 853 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 106 shares during the period. Finally, Capital Analysts LLC lifted its position in shares of Equinix by 0.9% during the 4th quarter. Capital Analysts LLC now owns 3,114 shares of the financial services provider’s stock valued at $2,508,000 after acquiring an additional 28 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQIX. Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Royal Bank of Canada boosted their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target for the company. in a report on Wednesday, March 20th. Finally, Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

Equinix Trading Up 0.7 %

NASDAQ EQIX opened at $739.85 on Friday. The business’s 50-day moving average price is $835.72 and its two-hundred day moving average price is $801.33. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The firm has a market capitalization of $70.00 billion, a PE ratio of 71.76, a price-to-earnings-growth ratio of 1.90 and a beta of 0.58. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a dividend yield of 2.30%. Equinix’s payout ratio is 165.28%.

Insider Activity at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now owns 7,968 shares in the company, valued at approximately $6,622,364.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Equinix news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now owns 23,187 shares in the company, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,585 shares of company stock worth $3,818,268 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

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.