Sumitomo Mitsui Trust Holdings Inc. Trims Position in Equinix, Inc. (NASDAQ:EQIX)

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 448,990 shares of the financial services provider’s stock after selling 3,611 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Equinix were worth $370,565,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Equinix by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after buying an additional 34,926 shares during the period. Cohen & Steers Inc. raised its position in shares of Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after buying an additional 13,988 shares during the period. Norges Bank purchased a new position in shares of Equinix in the 4th quarter worth $1,574,132,000. Principal Financial Group Inc. raised its position in shares of Equinix by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock worth $1,156,193,000 after buying an additional 37,150 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Equinix by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock valued at $799,270,000 after purchasing an additional 13,274 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX traded down $3.86 during trading hours on Wednesday, reaching $752.52. 57,276 shares of the company’s stock traded hands, compared to its average volume of 593,298. The firm has a market capitalization of $71.42 billion, a price-to-earnings ratio of 75.87, a P/E/G ratio of 2.63 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The business’s fifty day simple moving average is $755.95 and its two-hundred day simple moving average is $799.79.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Tuesday, May 21st. Equinix’s payout ratio is currently 170.91%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Oppenheimer increased their price target on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Truist Financial raised their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Barclays raised their target price on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, TD Cowen lowered their target price on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $872.33.

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.