KBC Group NV Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

KBC Group NV reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,257 shares of the financial services provider’s stock after selling 10,014 shares during the period. KBC Group NV owned 0.09% of Equinix worth $83,216,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 20 shares during the last quarter. Dunhill Financial LLC grew its holdings in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares in the last quarter. Finally, Webster Bank N. A. raised its position in shares of Equinix by 112.5% in the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $940.85 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $90.78 billion, a P/E ratio of 84.84, a P/E/G ratio of 2.20 and a beta of 0.73. The firm’s 50 day moving average price is $944.51 and its 200-day moving average price is $882.86. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. The trade was a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,549 shares of company stock worth $18,036,455. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of several research reports. Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their price objective on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $984.88.

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.