Central Pacific Bank Trust Division Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Central Pacific Bank Trust Division bought a new position in shares of Equinix, Inc. (NASDAQ:EQIXFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 813 shares of the financial services provider’s stock, valued at approximately $650,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Equinix in the fourth quarter worth $1,574,132,000. Principal Financial Group Inc. grew its position in Equinix by 14.9% during the first quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock worth $1,361,224,000 after buying an additional 213,740 shares in the last quarter. AMF Tjanstepension AB increased its stake in Equinix by 87.4% in the 1st quarter. AMF Tjanstepension AB now owns 308,991 shares of the financial services provider’s stock worth $255,114,000 after acquiring an additional 144,093 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Equinix by 24.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 685,952 shares of the financial services provider’s stock valued at $566,136,000 after acquiring an additional 136,385 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Equinix by 296.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 144,596 shares of the financial services provider’s stock valued at $116,456,000 after acquiring an additional 108,099 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent analyst reports. The Goldman Sachs Group assumed coverage on Equinix in a report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Oppenheimer boosted their price target on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. TD Cowen lowered their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 target price on shares of Equinix in a research report on Wednesday, March 13th. Finally, Truist Financial raised their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $872.33.

Check Out Our Latest Report on Equinix

Equinix Trading Down 0.7 %

EQIX traded down $5.64 on Wednesday, hitting $761.19. 6,487 shares of the company were exchanged, compared to its average volume of 584,249. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a fifty day simple moving average of $758.08 and a two-hundred day simple moving average of $797.81. The stock has a market capitalization of $72.24 billion, a PE ratio of 76.91, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.24%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insider Activity

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

Equinix Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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