Migdal Insurance & Financial Holdings Ltd. Takes $17.32 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Migdal Insurance & Financial Holdings Ltd. acquired a new position in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,500 shares of the financial services provider’s stock, valued at approximately $17,316,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Balentine LLC lifted its stake in Equinix by 0.8% in the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock worth $1,240,000 after acquiring an additional 14 shares during the period. DRW Securities LLC increased its holdings in shares of Equinix by 2.7% during the second quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 14 shares in the last quarter. Equitable Holdings Inc. increased its holdings in shares of Equinix by 0.5% during the first quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock valued at $2,224,000 after acquiring an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Equinix by 0.5% during the third quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock valued at $2,021,000 after acquiring an additional 15 shares in the last quarter. Finally, Legacy Advisors LLC increased its holdings in shares of Equinix by 1.6% during the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 15 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Down 0.3 %

Shares of NASDAQ EQIX traded down $2.34 during trading on Wednesday, reaching $739.80. 209,672 shares of the stock were exchanged, compared to its average volume of 556,029. The business’s 50-day moving average price is $840.28 and its 200 day moving average price is $802.23. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. 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 company has a market capitalization of $70.00 billion, a price-to-earnings ratio of 71.98, a price-to-earnings-growth ratio of 1.78 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 paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.30%. Equinix’s payout ratio is 165.28%.

Insider Buying and Selling at Equinix

In other Equinix news, 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 sale, the executive vice president now owns 1,242 shares in the company, valued at $1,034,548.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the sale, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock worth $3,818,268 over the last 90 days. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EQIX shares. Oppenheimer boosted their target price on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Wells Fargo & Company upped their price objective on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Barclays dropped their price target on shares of Equinix from $788.00 to $781.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Stifel Nicolaus reissued a “buy” rating and issued a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Finally, Truist Financial increased their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. 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. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average price target of $868.72.

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.