Equinix, Inc. $EQIX Shares Acquired by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 7.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 17,942 shares of the financial services provider’s stock after purchasing an additional 1,307 shares during the quarter. Equinix makes up 2.7% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 14th largest holding. First Fiduciary Investment Counsel Inc.’s holdings in Equinix were worth $14,053,000 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 stock. Westside Investment Management Inc. grew its position in Equinix by 190.9% in the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Equinix in the second quarter valued at approximately $26,000. Bank of Jackson Hole Trust increased its stake in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Abound Wealth Management increased its stake in shares of Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in Equinix during the second quarter worth approximately $28,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.0%

NASDAQ:EQIX opened at $802.13 on Thursday. The business’s fifty day moving average price is $772.94 and its 200 day moving average price is $785.52. The firm has a market capitalization of $78.76 billion, a price-to-earnings ratio of 73.46, a PEG ratio of 1.25 and a beta of 1.06. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $953.41.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EQIX. Truist Financial upped their price objective on Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Morgan Stanley started coverage on shares of Equinix in a report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price target for the company. The Goldman Sachs Group lowered shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective for the company. in a research report on Thursday, December 18th. Daiwa Capital Markets set a $917.00 target price on shares of Equinix and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Citigroup reissued a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $959.64.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,087 shares of Equinix stock in a transaction on Monday, November 17th. The shares were sold at an average price of $778.47, for a total value of $3,960,076.89. Following the completion of the sale, the chairman owned 10,426 shares of the company’s stock, valued at approximately $8,116,328.22. The trade was a 32.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raouf Abdel sold 927 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $743,250.06. Following the completion of the sale, the executive vice president owned 7,337 shares of the company’s stock, valued at approximately $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,490 shares of company stock valued at $15,281,999 in the last three months. Company insiders own 0.27% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.