Hartford Investment Management Co. Sells 123 Shares of Equinix, Inc. (NASDAQ:EQIX)

Hartford Investment Management Co. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,326 shares of the financial services provider’s stock after selling 123 shares during the quarter. Hartford Investment Management Co.’s holdings in Equinix were worth $5,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Balentine LLC boosted its stake in Equinix by 0.8% during the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock worth $1,240,000 after acquiring an additional 14 shares in the last quarter. DRW Securities LLC boosted its stake in Equinix by 2.7% during the second quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 14 shares in the last quarter. Equitable Holdings Inc. boosted its stake in Equinix by 0.5% during the first quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock worth $2,224,000 after acquiring an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Equinix by 0.5% during the third quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock worth $2,021,000 after acquiring an additional 15 shares in the last quarter. Finally, Legacy Advisors LLC boosted its stake in Equinix by 1.6% during the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 15 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

EQIX has been the topic of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. BMO Capital Markets raised their price objective on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada increased their target price on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Wells Fargo & Company raised their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $868.72.

Insider Activity

In other news, insider Michael Earl Campbell sold 2,199 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $799.92, for a total value of $1,759,024.08. Following the completion of the transaction, the insider now directly owns 14,067 shares in the company, valued at $11,252,474.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at $1,034,548.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 2,199 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the transaction, the insider now directly owns 14,067 shares in the company, valued at $11,252,474.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,282 shares of company stock worth $14,788,771. 0.32% of the stock is owned by company insiders.

Equinix Stock Performance

NASDAQ:EQIX traded up $1.07 on Thursday, reaching $789.98. 143,439 shares of the company’s stock were exchanged, compared to its average volume of 554,410. The stock has a fifty day simple moving average of $851.05 and a 200-day simple moving average of $799.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93. The firm has a market cap of $74.75 billion, a price-to-earnings ratio of 76.52, a P/E/G ratio of 1.89 and a beta of 0.58.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.16%. Equinix’s dividend payout ratio (DPR) is currently 165.28%.

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.