Mogy Joel R Investment Counsel Inc. Cuts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Mogy Joel R Investment Counsel Inc. lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,507 shares of the financial services provider’s stock after selling 496 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Equinix were worth $9,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. DAVENPORT & Co LLC purchased a new position in Equinix in the third quarter valued at about $222,000. UMB Bank n.a. grew its stake in shares of Equinix by 48.6% during the third quarter. UMB Bank n.a. now owns 55 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 18 shares during the last quarter. Oak Thistle LLC grew its stake in shares of Equinix by 185.7% during the third quarter. Oak Thistle LLC now owns 760 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 494 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Equinix by 3.5% during the third quarter. Handelsbanken Fonder AB now owns 21,305 shares of the financial services provider’s stock worth $15,473,000 after acquiring an additional 728 shares during the last quarter. Finally, First Personal Financial Services grew its stake in shares of Equinix by 0.9% during the third quarter. First Personal Financial Services now owns 9,346 shares of the financial services provider’s stock worth $6,788,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial boosted their price target on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. 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 research note on Thursday, February 29th. Finally, HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $862.50.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the business’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 value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Keith D. Taylor sold 1,164 shares of the business’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 value of $969,588.72. Following the completion of the sale, the chief financial officer now directly owns 23,187 shares in the company, valued at $19,314,307.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles J. Meyers sold 2,110 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the sale, the chief executive officer now owns 10,115 shares of the company’s stock, valued at $8,422,659.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,585 shares of company stock valued at $3,818,268. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

NASDAQ:EQIX traded down $6.74 during trading hours on Friday, reaching $731.61. The company had a trading volume of 779,483 shares, compared to its average volume of 563,003. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93. The firm has a market cap of $69.22 billion, a PE ratio of 70.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.58. The business’s 50 day moving average price is $823.50 and its 200-day moving average price is $802.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Tuesday, February 27th. Equinix’s payout ratio is presently 165.28%.

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.