Citigroup Inc. Sells 44,216 Shares of Equinix, Inc. (NASDAQ:EQIX)

Citigroup Inc. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 38.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,519 shares of the financial services provider’s stock after selling 44,216 shares during the quarter. Citigroup Inc. owned about 0.07% of Equinix worth $61,707,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BDF Gestion purchased a new position in Equinix in the second quarter worth $2,659,000. Van ECK Associates Corp raised its holdings in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after acquiring an additional 1,716 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after acquiring an additional 1,103 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after purchasing an additional 75,888 shares during the last quarter. Finally, Raymond James & Associates grew its position in Equinix by 3.0% during the 2nd quarter. Raymond James & Associates now owns 172,904 shares of the financial services provider’s stock worth $130,819,000 after acquiring an additional 5,056 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Insiders Place Their Bets

In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This trade represents a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company’s stock.

Equinix Stock Up 1.4 %

Shares of NASDAQ EQIX opened at $936.37 on Friday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The stock’s fifty day simple moving average is $891.74 and its two-hundred day simple moving average is $825.46. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $90.35 billion, a PE ratio of 84.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.71.

Equinix Dividend Announcement

The company also recently announced 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. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.82%. Equinix’s dividend payout ratio (DPR) is 153.65%.

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.