WESPAC Advisors LLC trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 33.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,909 shares of the financial services provider’s stock after selling 2,438 shares during the quarter. Equinix makes up about 2.1% of WESPAC Advisors LLC’s investment portfolio, making the stock its 7th largest holding. WESPAC Advisors LLC’s holdings in Equinix were worth $2,225,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in EQIX. Suntrust Banks Inc. increased its position in shares of Equinix by 7.5% during the second quarter. Suntrust Banks Inc. now owns 1,648 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 115 shares during the period. HighTower Advisors LLC lifted its stake in shares of Equinix by 21.1% during the second quarter. HighTower Advisors LLC now owns 1,171 shares of the financial services provider’s stock valued at $503,000 after acquiring an additional 204 shares during the period. Sun Life Financial INC lifted its stake in shares of Equinix by 3,462.5% during the second quarter. Sun Life Financial INC now owns 570 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 554 shares during the period. Capital World Investors lifted its stake in shares of Equinix by 247.0% during the second quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after acquiring an additional 761,220 shares during the period. Finally, Fred Alger Management Inc. lifted its stake in shares of Equinix by 32.5% during the second quarter. Fred Alger Management Inc. now owns 346,213 shares of the financial services provider’s stock valued at $148,581,000 after acquiring an additional 84,988 shares during the period. Institutional investors and hedge funds own 93.85% of the company’s stock.
Shares of Equinix, Inc. (NASDAQ:EQIX) traded up $4.80 during trading hours on Wednesday, hitting $436.25. The stock had a trading volume of 910,200 shares, compared to its average volume of 689,361. The firm has a market cap of $34,130.00, a P/E ratio of 141.01, a price-to-earnings-growth ratio of 1.49 and a beta of 0.42. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 2.11. Equinix, Inc. has a 12 month low of $361.90 and a 12 month high of $495.35.
A number of equities research analysts recently commented on the company. UBS Group upgraded Equinix from a “neutral” rating to a “buy” rating and set a $510.00 price objective for the company in a report on Monday, January 29th. BidaskClub cut Equinix from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 25th. Oppenheimer raised their price objective on Equinix from $472.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Credit Suisse Group set a $524.00 price objective on Equinix and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, Citigroup raised their price objective on Equinix from $518.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $504.29.
In related news, CEO Stephen M. Smith sold 10,706 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $443.10, for a total value of $4,743,828.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Earl Campbell sold 200 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $462.43, for a total value of $92,486.00. Following the sale, the insider now directly owns 925 shares of the company’s stock, valued at $427,747.75. The disclosure for this sale can be found here. Insiders sold a total of 24,513 shares of company stock worth $10,961,480 over the last three months. 0.58% of the stock is owned by company insiders.
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Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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