Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Alkeon Capital Management LLC

Alkeon Capital Management LLC reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 408,975 shares of the financial services provider’s stock after selling 251 shares during the period. Equinix makes up approximately 0.6% of Alkeon Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Alkeon Capital Management LLC’s holdings in Equinix were worth $363,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EQIX. Hantz Financial Services Inc. raised its stake in Equinix by 8.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,677 shares of the financial services provider’s stock worth $3,264,000 after acquiring an additional 275 shares during the last quarter. Vinva Investment Management Ltd increased its holdings in shares of Equinix by 14.9% in the third quarter. Vinva Investment Management Ltd now owns 4,415 shares of the financial services provider’s stock valued at $3,897,000 after purchasing an additional 574 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after purchasing an additional 813,666 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Equinix by 26.0% during the third quarter. Public Sector Pension Investment Board now owns 16,570 shares of the financial services provider’s stock worth $14,708,000 after purchasing an additional 3,421 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Equinix by 7.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,405 shares of the financial services provider’s stock valued at $73,145,000 after buying an additional 6,046 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

NASDAQ:EQIX opened at $979.10 on Friday. The stock has a 50 day moving average of $900.50 and a two-hundred day moving average of $831.45. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market cap of $94.47 billion, a P/E ratio of 88.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.74%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. HSBC raised Equinix from a “hold” rating to a “buy” rating and increased their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Scotiabank upped their target price on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $952.88.

Insider Buying and Selling at Equinix

In other news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This trade represents a 9.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,754 shares of company stock worth $11,666,756. Corporate insiders own 0.27% 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.