Hartford Investment Management Co. Sells 111 Shares of Equinix, Inc. (NASDAQ:EQIX)

Hartford Investment Management Co. reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,970 shares of the financial services provider’s stock after selling 111 shares during the quarter. Hartford Investment Management Co.’s holdings in Equinix were worth $5,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQIX. CNB Bank increased its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix during the second quarter worth $30,000. LRI Investments LLC acquired a new position in Equinix during the 1st quarter valued at $31,000. Meeder Asset Management Inc. bought a new stake in Equinix in the 2nd quarter valued at $36,000. Finally, Sugarloaf Wealth Management LLC grew its position 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 purchasing an additional 20 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX traded up $5.85 on Wednesday, hitting $884.22. The company’s stock had a trading volume of 18,069 shares, compared to its average volume of 525,119. The company has a 50 day moving average price of $857.54 and a 200 day moving average price of $798.99. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a market capitalization of $83.92 billion, a PE ratio of 88.10, a PEG ratio of 2.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company posted $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.93%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Evercore ISI raised Equinix to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $914.36.

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.