Sumitomo Mitsui Trust Group Inc. Purchases 23,479 Shares of Equinix, Inc. (NASDAQ:EQIX)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 506,082 shares of the financial services provider’s stock after buying an additional 23,479 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Equinix were worth $449,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. First National Trust Co raised its stake in Equinix by 0.7% in the 3rd quarter. First National Trust Co now owns 7,263 shares of the financial services provider’s stock worth $6,447,000 after purchasing an additional 53 shares in the last quarter. Entropy Technologies LP boosted its stake in shares of Equinix by 90.1% in the third quarter. Entropy Technologies LP now owns 5,900 shares of the financial services provider’s stock valued at $5,237,000 after buying an additional 2,797 shares during the period. Laffer Tengler Investments Inc. boosted its stake in shares of Equinix by 3.0% in the third quarter. Laffer Tengler Investments Inc. now owns 2,696 shares of the financial services provider’s stock valued at $2,393,000 after buying an additional 79 shares during the period. Venturi Wealth Management LLC increased its stake in Equinix by 3.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,269 shares of the financial services provider’s stock worth $1,126,000 after acquiring an additional 43 shares during the period. Finally, Catalytic Wealth RIA LLC grew its holdings in shares of Equinix by 39.9% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 1,392 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 397 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The stock was 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. 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. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of analyst reports. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Wells Fargo & Company upped their price target on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Truist Financial lifted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets upped their target price on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Stock Down 0.8 %

Shares of NASDAQ EQIX opened at $913.50 on Tuesday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $943.02. The company’s 50 day moving average price is $879.56 and its 200-day moving average price is $813.36. The company has a market capitalization of $88.14 billion, a P/E ratio of 82.37, a price-to-earnings-growth ratio of 2.31 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

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 $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.87%. Equinix’s payout ratio is currently 153.65%.

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.