First National Trust Co Grows Stock Position in Equinix, Inc. (NASDAQ:EQIX)

First National Trust Co lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,263 shares of the financial services provider’s stock after buying an additional 53 shares during the period. First National Trust Co’s holdings in Equinix were worth $6,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after buying an additional 398,494 shares in the last quarter. Swedbank AB purchased a new position in Equinix during the first quarter valued at approximately $294,526,000. Principal Financial Group Inc. lifted its holdings in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares during the period. Finally, M&G Plc purchased a new stake in shares of Equinix in the first quarter worth $187,089,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,632 shares of company stock worth $10,633,777. 0.27% of the stock is currently owned by company insiders.

Equinix Price Performance

EQIX stock opened at $913.50 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02. The stock has a market cap of $88.14 billion, a PE ratio of 82.37, a P/E/G ratio of 2.31 and a beta of 0.71. The company has a 50-day moving average price of $879.56 and a 200 day moving average price of $813.36.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. Equinix’s dividend payout ratio is 153.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EQIX. Barclays boosted their price objective on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Scotiabank increased their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, BMO Capital Markets upped their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $944.63.

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.