Eastern Bank Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

Eastern Bank lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.4% during the fourth quarter, HoldingsChannel reports. The fund owned 15,144 shares of the financial services provider’s stock after acquiring an additional 1,426 shares during the quarter. Eastern Bank’s holdings in Equinix were worth $12,197,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in EQIX. Valley National Advisers Inc. raised its holdings in Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares during the last quarter. Providence Capital Advisors LLC purchased a new stake in shares of Equinix in the third quarter valued at about $29,000. Operose Advisors LLC purchased a new stake in shares of Equinix in the third quarter valued at about $36,000. Asset Dedication LLC increased its stake in shares of Equinix by 92.6% during the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares in the last quarter. Finally, Quarry LP raised its position in shares of Equinix by 237.5% during the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

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

Equinix Trading Up 0.4 %

NASDAQ EQIX traded up $2.93 on Monday, hitting $787.34. 486,964 shares of the company were exchanged, compared to its average volume of 556,042. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The company’s 50 day moving average price is $849.83 and its 200-day moving average price is $799.94. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $74.50 billion, a P/E ratio of 76.08, a price-to-earnings-growth ratio of 1.87 and a beta of 0.58.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s payout ratio is presently 165.28%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EQIX. BMO Capital Markets raised their target price on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Barclays decreased their target price on Equinix from $788.00 to $781.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a research note on Wednesday, March 20th. Wolfe Research raised shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $868.72.

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.