Prudent Man Advisors LLC Reduces Position in Equinix, Inc. (NASDAQ:EQIX)

Prudent Man Advisors LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,522 shares of the financial services provider’s stock after selling 22 shares during the quarter. Prudent Man Advisors LLC’s holdings in Equinix were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its stake in Equinix by 9.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 152,441 shares of the financial services provider’s stock worth $135,311,000 after purchasing an additional 13,475 shares during the period. Claro Advisors LLC bought a new position in shares of Equinix in the third quarter valued at approximately $251,000. Tower Bridge Advisors bought a new stake in Equinix during the 3rd quarter worth approximately $209,000. WESPAC Advisors SoCal LLC purchased a new stake in shares of Equinix in the third quarter worth $861,000. Finally, Natixis Advisors LLC raised its holdings in shares of Equinix by 4.0% in the 3rd quarter. Natixis Advisors LLC now owns 47,968 shares of the financial services provider’s stock valued at $42,578,000 after acquiring an additional 1,839 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $897.37 on Monday. 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 company has a 50-day moving average price of $885.56 and a 200-day moving average price of $818.53. The company has a market cap of $86.59 billion, a price-to-earnings ratio of 80.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $943.02.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. Equinix’s dividend payout ratio is presently 153.65%.

Analyst Ratings Changes

Several research firms have recently weighed in on EQIX. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Barclays lifted their price target on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Evercore ISI increased their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now directly owns 8,231 shares in the company, valued at approximately $7,531,365. The trade was a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,654 shares of company stock valued at $11,577,656 in the last 90 days. Insiders own 0.27% of the company’s stock.

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.