First Citizens Bank & Trust Co. Sells 184 Shares of Equinix, Inc. (NASDAQ:EQIX)

First Citizens Bank & Trust Co. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.2% in the fourth quarter, Holdings Channel reports. The firm owned 8,122 shares of the financial services provider’s stock after selling 184 shares during the period. First Citizens Bank & Trust Co.’s holdings in Equinix were worth $7,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of EQIX. State Street Corp grew its holdings in Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC boosted its position in Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. boosted its position in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. JPMorgan Chase & Co. boosted its position in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Equinix by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Equinix stock opened at $940.85 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $90.78 billion, a PE ratio of 84.84, a P/E/G ratio of 2.20 and a beta of 0.73. The firm has a fifty day simple moving average of $944.51 and a two-hundred day simple moving average of $882.05. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EQIX shares. TD Cowen raised their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Scotiabank raised their target price on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. BMO Capital Markets raised their target price on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on shares of Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $984.88.

Insider Activity

In other news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the transaction, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,549 shares of company stock valued at $18,036,455. 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.