Schwartz Investment Counsel Inc. Sells 72,975 Shares of Equinix, Inc. (NASDAQ:EQIX)

Schwartz Investment Counsel Inc. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 99.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the financial services provider’s stock after selling 72,975 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Equinix were worth $326,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Equinix in the 4th quarter valued at approximately $725,557,000. Principal Financial Group Inc. lifted its stake in Equinix by 44.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after acquiring an additional 431,435 shares in the last quarter. Morgan Stanley lifted its stake in Equinix by 26.5% in the 4th quarter. Morgan Stanley now owns 854,549 shares of the financial services provider’s stock valued at $559,756,000 after acquiring an additional 179,023 shares in the last quarter. Wellington Management Group LLP lifted its stake in Equinix by 28.3% in the 1st quarter. Wellington Management Group LLP now owns 604,277 shares of the financial services provider’s stock valued at $448,144,000 after acquiring an additional 133,132 shares in the last quarter. Finally, Barclays PLC lifted its stake in Equinix by 157.5% in the 2nd quarter. Barclays PLC now owns 214,988 shares of the financial services provider’s stock valued at $168,540,000 after acquiring an additional 131,503 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, insider Michael Earl Campbell sold 2,199 shares of the stock in a transaction 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 owns 14,067 shares in the company, valued at approximately $11,252,474.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Charles J. Meyers sold 7,174 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $800.18, for a total transaction of $5,740,491.32. Following the sale, the chief executive officer now directly owns 16,360 shares of the company’s stock, valued at approximately $13,090,944.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael Earl Campbell sold 2,199 shares of the stock in a transaction 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 sale, 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. Insiders have sold 18,282 shares of company stock worth $14,788,771 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Barclays lowered their price target on Equinix from $788.00 to $781.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Truist Financial boosted their price target on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Morgan Stanley lowered their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Finally, Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $868.72.

Equinix Stock Performance

EQIX stock traded up $3.41 during trading hours on Tuesday, hitting $791.60. 75,334 shares of the stock were exchanged, compared to its average volume of 551,277. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $74.90 billion, a P/E ratio of 76.45, a P/E/G ratio of 1.87 and a beta of 0.58. The company has a 50-day simple moving average of $848.96 and a two-hundred day simple moving average of $800.32. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders 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 2.15%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s payout ratio is 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.