Fifth Third Bancorp Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

Fifth Third Bancorp lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 31.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,019 shares of the financial services provider’s stock after acquiring an additional 2,627 shares during the period. Fifth Third Bancorp’s holdings in Equinix were worth $10,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its stake in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Sugarloaf Wealth Management LLC raised its stake in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. Dunhill Financial LLC grew its stake in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the last quarter. Finally, Webster Bank N. A. increased its holdings in shares of Equinix by 112.5% in the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 27 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,549 shares of company stock worth $18,036,455. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

EQIX opened at $940.85 on Friday. The company has a market cap of $90.78 billion, a price-to-earnings ratio of 84.84, a PEG ratio of 2.20 and a beta of 0.73. The firm’s fifty day simple moving average is $944.51 and its two-hundred day simple moving average is $882.05. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EQIX shares. TD Cowen lifted their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and upped their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Scotiabank boosted their target price on shares of Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a research report on Thursday. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $984.88.

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.