BTC Capital Management Inc. Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

BTC Capital Management Inc. cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 10.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 735 shares of the financial services provider’s stock after selling 86 shares during the quarter. BTC Capital Management Inc.’s holdings in Equinix were worth $693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cibc World Market Inc. lifted its stake in Equinix by 6.0% in the 4th quarter. Cibc World Market Inc. now owns 22,533 shares of the financial services provider’s stock valued at $21,246,000 after buying an additional 1,277 shares in the last quarter. Mediolanum International Funds Ltd raised its holdings in Equinix by 58.9% in the 4th quarter. Mediolanum International Funds Ltd now owns 12,098 shares of the financial services provider’s stock valued at $11,295,000 after acquiring an additional 4,484 shares during the last quarter. First Affirmative Financial Network raised its holdings in Equinix by 6.7% in the 4th quarter. First Affirmative Financial Network now owns 936 shares of the financial services provider’s stock valued at $882,000 after acquiring an additional 59 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Equinix by 9.5% in the 4th quarter. Hantz Financial Services Inc. now owns 4,025 shares of the financial services provider’s stock valued at $3,795,000 after acquiring an additional 348 shares during the last quarter. Finally, Forsta AP Fonden raised its holdings in Equinix by 19.6% in the 4th quarter. Forsta AP Fonden now owns 25,600 shares of the financial services provider’s stock valued at $24,138,000 after acquiring an additional 4,200 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on EQIX. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. JMP Securities initiated coverage on shares of Equinix in a report on Monday, January 27th. They issued an “outperform” rating and a $1,200.00 price objective for the company. Finally, Scotiabank raised their price target on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $997.53.

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 222 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. This trade represents a 17.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction 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 $13,859,135.73. This represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,823 shares of company stock valued at $16,474,442. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $913.66 on Friday. 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 stock has a market capitalization of $88.16 billion, a P/E ratio of 82.39, a PEG ratio of 2.16 and a beta of 0.73. The company has a 50 day moving average price of $943.72 and a 200 day moving average price of $885.47. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

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.