Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,286 shares of the financial services provider’s stock after selling 12,267 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.11% of Equinix worth $82,321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EQIX. Pinnacle Wealth Planning Services Inc. raised its holdings in Equinix by 3.1% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 632 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 19 shares during the period. Centersquare Investment Management LLC lifted its position in shares of Equinix by 13.5% during the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after buying an additional 112,194 shares in the last quarter. M&G Plc bought a new position in shares of Equinix during the 1st quarter valued at approximately $187,089,000. Banco Santander S.A. grew its stake in shares of Equinix by 2.0% during the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 14 shares during the period. Finally, Trillium Asset Management LLC increased its holdings in Equinix by 1.3% in the 1st quarter. Trillium Asset Management LLC now owns 28,051 shares of the financial services provider’s stock worth $23,150,000 after acquiring an additional 361 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Down 1.0 %

NASDAQ:EQIX traded down $8.25 during midday trading on Friday, hitting $786.82. 234,266 shares of the company traded hands, compared to its average volume of 447,134. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The firm has a market capitalization of $74.68 billion, a P/E ratio of 78.92, a P/E/G ratio of 2.72 and a beta of 0.68. The firm’s fifty day moving average is $771.25 and its 200-day moving average is $797.37.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.17%. Equinix’s payout ratio is 170.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EQIX. TD Cowen reduced their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Mizuho initiated coverage on Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price target for the company. Royal Bank of Canada lowered their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group began coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $872.38.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

About Equinix

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.