Everence Capital Management Inc. Has $3.69 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Everence Capital Management Inc. cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,577 shares of the financial services provider’s stock after selling 500 shares during the quarter. Everence Capital Management Inc.’s holdings in Equinix were worth $3,686,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EQIX. Sequoia Financial Advisors LLC grew its position in Equinix by 15.5% during the first quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider’s stock worth $509,000 after buying an additional 92 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Equinix by 5.3% during the first quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider’s stock valued at $867,000 after purchasing an additional 59 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Equinix by 182.8% during the first quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 170 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Equinix by 10.3% during the first quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 16 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Equinix by 300.0% during the first quarter. Covestor Ltd now owns 172 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 129 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Royal Bank of Canada lifted their target price on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research note on Wednesday, March 20th. Finally, Morgan Stanley cut their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $868.72.

Equinix Trading Down 0.3 %

EQIX stock traded down $1.97 during trading on Tuesday, hitting $742.14. The company had a trading volume of 579,116 shares, compared to its average volume of 558,373. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average price of $842.19 and a 200-day moving average price of $802.12. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The stock has a market cap of $70.22 billion, a price-to-earnings ratio of 72.17, a PEG ratio of 1.82 and a beta of 0.58.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio is presently 165.28%.

Insiders Place Their Bets

In other Equinix news, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the sale, the executive vice president now owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available through this link. Also, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,282 shares of company stock valued at $14,788,771. Company insiders own 0.32% of the company’s stock.

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.