BI Asset Management Fondsmaeglerselskab A S Cuts Stake in Equinix, Inc. $EQIX

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 76.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,738 shares of the financial services provider’s stock after selling 15,556 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Equinix were worth $3,711,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EQIX. Vanguard Group Inc. lifted its stake in Equinix by 1.7% in the second quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock valued at $10,443,758,000 after purchasing an additional 222,221 shares during the last quarter. State Street Corp increased its position in Equinix by 3.7% in the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after buying an additional 220,981 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Equinix by 3.0% in the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after buying an additional 56,592 shares during the period. Norges Bank purchased a new position in shares of Equinix during the 2nd quarter valued at $892,431,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of Equinix by 3.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,102,423 shares of the financial services provider’s stock worth $876,944,000 after acquiring an additional 38,936 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $848.12 on Friday. The company has a 50 day moving average of $775.97 and a 200 day moving average of $786.08. The stock has a market cap of $83.28 billion, a P/E ratio of 77.67, a P/E/G ratio of 1.26 and a beta of 1.06. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $953.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research reports. Morgan Stanley started coverage on Equinix in a research note on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price objective on the stock. The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 target price for the company. in a research note on Thursday, December 18th. Scotiabank lowered their price target on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equinix in a report on Thursday, January 22nd. Finally, HSBC set a $1,050.00 price objective on shares of Equinix and gave the company a “buy” rating in a research note on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $959.64.

Insider Transactions at Equinix

In other news, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total value of $1,649,352.67. Following the transaction, the chief financial officer owned 26,373 shares of the company’s stock, valued at approximately $21,208,375.41. This represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,894 shares of Equinix stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total value of $2,115,774.46. Following the sale, the chief executive officer directly owned 12,366 shares of the company’s stock, valued at $9,040,658.94. This represents a 18.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 19,490 shares of company stock worth $15,281,999. 0.27% of the stock is owned by corporate insiders.

Equinix Profile

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.