Oak Thistle LLC Sells 88 Shares of Equinix, Inc. (NASDAQ:EQIX)

Oak Thistle LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 17.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 423 shares of the financial services provider’s stock after selling 88 shares during the quarter. Oak Thistle LLC’s holdings in Equinix were worth $349,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EQIX. Vanguard Group Inc. grew its stake in Equinix by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after buying an additional 34,926 shares in the last quarter. Cohen & Steers Inc. increased its stake in Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Norges Bank purchased a new stake in Equinix during the fourth quarter valued at about $1,574,132,000. Principal Financial Group Inc. lifted its stake in Equinix by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock worth $1,156,193,000 after purchasing an additional 37,150 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Equinix by 1.4% during the fourth quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock worth $799,270,000 after purchasing an additional 13,274 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 value of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $759.68 on Tuesday. The company has a market cap of $72.10 billion, a PE ratio of 76.20, a P/E/G ratio of 2.63 and a beta of 0.68. The business has a 50 day moving average of $755.85 and a 200 day moving average of $800.12. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders 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 dividend yield of 2.24%. Equinix’s dividend payout ratio is 170.91%.

Analysts Set New Price Targets

EQIX has been the topic of a number of research reports. Oppenheimer raised their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Royal Bank of Canada lowered their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. TD Cowen reduced their target price on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a report on Friday, May 10th. The Goldman Sachs Group assumed coverage on shares of Equinix in a research report on Monday. They issued a “buy” rating and a $870.00 target price on the stock. Finally, Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $872.33.

Equinix 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.