Park Place Capital Corp Sells 47 Shares of Equinix, Inc. (NASDAQ:EQIX)

Park Place Capital Corp lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 18.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 213 shares of the financial services provider’s stock after selling 47 shares during the quarter. Park Place Capital Corp’s holdings in Equinix were worth $161,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Appleton Partners Inc. MA raised its holdings in shares of Equinix by 1.1% during the second quarter. Appleton Partners Inc. MA now owns 15,335 shares of the financial services provider’s stock valued at $11,602,000 after purchasing an additional 167 shares during the period. Pensionfund DSM Netherlands raised its holdings in shares of Equinix by 9.4% during the second quarter. Pensionfund DSM Netherlands now owns 11,614 shares of the financial services provider’s stock valued at $8,787,000 after purchasing an additional 1,000 shares during the period. Pensionfund Sabic raised its holdings in shares of Equinix by 7.7% during the second quarter. Pensionfund Sabic now owns 5,610 shares of the financial services provider’s stock valued at $4,245,000 after purchasing an additional 400 shares during the period. Lasalle Investment Management Securities LLC raised its holdings in shares of Equinix by 0.8% during the first quarter. Lasalle Investment Management Securities LLC now owns 177,541 shares of the financial services provider’s stock valued at $146,530,000 after purchasing an additional 1,353 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Equinix by 23.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 98,002 shares of the financial services provider’s stock valued at $79,332,000 after purchasing an additional 18,387 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the company’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 in the company, valued at $10,212,779. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Christopher B. Paisley sold 100 shares of the 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 directly owns 17,641 shares in the company, valued at $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now 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 company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EQIX. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group began coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 target price for the company. Mizuho assumed coverage on shares of Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target on the stock. 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 report on Friday, May 10th. Finally, Royal Bank of Canada cut their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $871.29.

Equinix Stock Performance

EQIX stock traded down $26.96 during midday trading on Monday, reaching $779.69. 249,022 shares of the company’s stock traded hands, compared to its average volume of 565,737. The company has a 50-day moving average price of $771.50 and a two-hundred day moving average price of $796.34. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The firm has a market capitalization of $74.00 billion, a PE ratio of 80.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were given a $4.26 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.19%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

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.