Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Sycomore Asset Management

Sycomore Asset Management increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 20.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,916 shares of the financial services provider’s stock after acquiring an additional 1,679 shares during the quarter. Equinix comprises 1.7% of Sycomore Asset Management’s investment portfolio, making the stock its 18th biggest position. Sycomore Asset Management’s holdings in Equinix were worth $8,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valley National Advisers Inc. raised its stake in Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares during the period. Providence Capital Advisors LLC purchased a new position in Equinix during the third quarter worth about $29,000. Criterion Capital Advisors LLC purchased a new position in Equinix during the fourth quarter worth about $32,000. Operose Advisors LLC purchased a new position in Equinix during the third quarter worth about $36,000. Finally, Asset Dedication LLC raised its stake in Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on EQIX. Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Truist Financial increased their target price on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada increased their target price on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Barclays dropped their target price on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Finally, Morgan Stanley dropped their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

Insider Activity at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock worth $3,818,268 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock traded down $5.06 during mid-day trading on Wednesday, hitting $756.84. The stock had a trading volume of 775,655 shares, compared to its average volume of 565,545. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93. The firm has a market cap of $71.61 billion, a PE ratio of 73.41, a PEG ratio of 1.95 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50-day simple moving average is $828.73 and its 200-day simple moving average is $803.06.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

About Equinix

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.