Prime Capital Investment Advisors LLC Lowers Stock Position in Equinix, Inc. $EQIX

Prime Capital Investment Advisors LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 68.5% during the third quarter, Holdings Channel.com reports. The firm owned 865 shares of the financial services provider’s stock after selling 1,878 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Equinix were worth $678,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC boosted its stake in Equinix by 4.2% in the 3rd quarter. Quent Capital LLC now owns 298 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 12 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Equinix by 1.3% in the second quarter. Whittier Trust Co. now owns 1,040 shares of the financial services provider’s stock worth $827,000 after buying an additional 13 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of Equinix by 10.9% during the second quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock worth $105,000 after buying an additional 13 shares during the period. Flputnam Investment Management Co. grew its holdings in shares of Equinix by 1.0% during the third quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 13 shares during the last quarter. Finally, Paragon Private Wealth Management LLC increased its position in shares of Equinix by 2.7% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

EQIX opened at $857.74 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a fifty day moving average price of $778.47 and a 200 day moving average price of $786.39. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $953.41. The stock has a market cap of $84.22 billion, a P/E ratio of 78.55, a P/E/G ratio of 1.32 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of analysts have commented on EQIX shares. Scotiabank lowered their price target on Equinix from $965.00 to $959.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Barclays reiterated a “positive” rating and issued a $870.00 price target on shares of Equinix in a report on Tuesday, January 13th. Truist Financial lifted their price objective on shares of Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Finally, The Goldman Sachs Group downgraded shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $959.64.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the completion of the transaction, the chief executive officer owned 12,366 shares of the company’s stock, valued at approximately $9,040,658.94. This represents a 18.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 5,087 shares of the firm’s stock in a transaction that occurred 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 directly owned 10,426 shares in the company, valued at approximately $8,116,328.22. The trade was a 32.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,490 shares of company stock valued at $15,281,999 in the last ninety days. Company insiders own 0.27% of the company’s stock.

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.