OVERSEA CHINESE BANKING Corp Ltd Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,936 shares of the financial services provider’s stock after selling 1,547 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Equinix were worth $17,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC purchased a new stake in Equinix in the first quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter valued at approximately $30,000. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% in the third 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 during the period. Fortitude Family Office LLC grew its holdings in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its holdings in Equinix by 100.0% in the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction on 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 sale, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,632 shares of company stock valued at $10,633,777. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.8 %

EQIX opened at $913.50 on Tuesday. The stock has a market capitalization of $88.14 billion, a PE ratio of 82.37, a P/E/G ratio of 2.31 and a beta of 0.71. The firm’s fifty day moving average price is $879.56 and its 200 day moving average price is $813.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EQIX. Wells Fargo & Company boosted their price objective on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Mizuho boosted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

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.