First National Trust Co Reduces Holdings in Equinix, Inc. (NASDAQ:EQIX)

First National Trust Co decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,798 shares of the financial services provider’s stock after selling 548 shares during the period. First National Trust Co’s holdings in Equinix were worth $5,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its stake in Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares during the period. Providence Capital Advisors LLC acquired a new position in Equinix during the 3rd quarter worth $29,000. Criterion Capital Advisors LLC acquired a new position in Equinix during the 4th quarter worth $32,000. Operose Advisors LLC acquired a new position in Equinix during the 3rd quarter worth $36,000. Finally, Asset Dedication LLC grew its holdings in Equinix by 92.6% during the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on EQIX. Oppenheimer raised their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Barclays decreased their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Royal Bank of Canada boosted their price objective 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. Finally, Morgan Stanley cut their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Seven research 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. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded up $1.48 on Friday, hitting $700.18. The company’s stock had a trading volume of 762,548 shares, compared to its average volume of 698,429. The company has a market capitalization of $66.25 billion, a price-to-earnings ratio of 67.91, a price-to-earnings-growth ratio of 1.80 and a beta of 0.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The stock’s 50-day moving average is $807.36 and its two-hundred day moving average is $801.23.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.43%. Equinix’s dividend payout ratio is presently 165.28%.

Insider Buying and Selling at Equinix

In other news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 of the company’s stock, valued at approximately $19,314,307.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction 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 owns 23,187 shares in the company, valued at $19,314,307.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $101,396.64. Following the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,585 shares of company stock valued at $3,818,268. Company insiders own 0.27% of the company’s stock.

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.