Forsta AP Fonden Cuts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Forsta AP Fonden decreased its position in shares of Equinix, Inc. (NASDAQ:EQIXGet Rating) by 4.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 16,400 shares of the financial services provider’s stock after selling 700 shares during the period. Forsta AP Fonden’s holdings in Equinix were worth $12,163,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Wesbanco Bank Inc. grew its holdings in shares of Equinix by 2.3% during the first quarter. Wesbanco Bank Inc. now owns 626 shares of the financial services provider’s stock valued at $464,000 after buying an additional 14 shares during the last quarter. Tower Bridge Advisors lifted its position in Equinix by 3.9% during the first quarter. Tower Bridge Advisors now owns 395 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 15 shares during the period. Rational Advisors LLC lifted its position in Equinix by 123.1% during the fourth quarter. Rational Advisors LLC now owns 29 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 16 shares during the period. Glassman Wealth Services lifted its position in Equinix by 20.8% during the first quarter. Glassman Wealth Services now owns 93 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 16 shares during the period. Finally, MUFG Americas Holdings Corp lifted its position in Equinix by 1.6% during the first quarter. MUFG Americas Holdings Corp now owns 1,032 shares of the financial services provider’s stock valued at $765,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 92.68% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $658.39, for a total value of $658,390.00. Following the completion of the transaction, the chief financial officer now directly owns 21,120 shares of the company’s stock, valued at approximately $13,905,196.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Equinix news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $658.39, for a total value of $658,390.00. Following the completion of the transaction, the chief financial officer now directly owns 21,120 shares of the company’s stock, valued at approximately $13,905,196.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Lin sold 76 shares of Equinix stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $676.00, for a total transaction of $51,376.00. Following the completion of the transaction, the executive vice president now directly owns 5,084 shares of the company’s stock, valued at $3,436,784. The disclosure for this sale can be found here. Insiders sold 1,126 shares of company stock valued at $742,362 in the last three months. Corporate insiders own 0.32% of the company’s stock.

Equinix Stock Performance

EQIX opened at $697.51 on Friday. The stock has a market capitalization of $63.52 billion, a price-to-earnings ratio of 99.22, a PEG ratio of 3.10 and a beta of 0.48. The company has a fifty day moving average of $660.50 and a 200 day moving average of $692.13. Equinix, Inc. has a fifty-two week low of $606.12 and a fifty-two week high of $885.26. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.91 and a current ratio of 2.04.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, August 17th will be paid a dividend of $3.10 per share. The ex-dividend date is Tuesday, August 16th. This represents a $12.40 annualized dividend and a yield of 1.78%. Equinix’s payout ratio is 176.39%.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of research analyst reports. Credit Suisse Group lowered their price objective on shares of Equinix from $718.00 to $716.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. William Blair reiterated an “outperform” rating on shares of Equinix in a research report on Thursday, July 28th. BMO Capital Markets decreased their price target on shares of Equinix from $825.00 to $770.00 in a research report on Thursday, May 26th. Morgan Stanley decreased their price target on shares of Equinix from $773.00 to $732.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 26th. Finally, Jefferies Financial Group upgraded shares of Equinix from a “hold” rating to a “buy” rating and increased their price target for the stock from $750.00 to $790.00 in a research report on Thursday, June 30th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $818.31.

About Equinix

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Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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