Eastern Bank Sells 282 Shares of Equinix, Inc. (NASDAQ:EQIX)

Eastern Bank reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,861 shares of the financial services provider’s stock after selling 282 shares during the quarter. Eastern Bank’s holdings in Equinix were worth $15,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of EQIX. Van ECK Associates Corp lifted its position in shares of Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after buying an additional 1,716 shares during the last quarter. Brookfield Corp ON boosted its holdings in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB boosted its holdings in shares of Equinix by 3.0% during 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. boosted its holdings 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 acquiring an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management lifted its holdings in Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after buying an additional 6,000 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQIX has been the subject of a number of research analyst reports. Truist Financial boosted their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Royal Bank of Canada upped their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank boosted their target price on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Finally, Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Three 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,398 shares of company stock valued at $7,906,218. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock traded down $3.72 during trading on Monday, hitting $896.11. 267,890 shares of the company’s stock were exchanged, compared to its average volume of 450,579. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The business has a 50-day simple moving average of $941.47 and a 200-day simple moving average of $872.25. The stock has a market capitalization of $86.46 billion, a price-to-earnings ratio of 80.80, a PEG ratio of 2.48 and a beta of 0.73.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. Equinix’s payout ratio is 153.65%.

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.