American Assets Capital Advisers LLC Sells 1,181 Shares of Equinix, Inc. $EQIX

American Assets Capital Advisers LLC decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 15.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,469 shares of the financial services provider’s stock after selling 1,181 shares during the period. Equinix accounts for about 5.3% of American Assets Capital Advisers LLC’s portfolio, making the stock its 6th biggest position. American Assets Capital Advisers LLC’s holdings in Equinix were worth $5,067,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. boosted its holdings in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Equinix during the 2nd quarter valued at $26,000. Bank of Jackson Hole Trust lifted its position in shares of Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares during the period. Abound Wealth Management boosted its stake in Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Equinix in the second quarter worth $28,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock opened at $810.38 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The business has a 50-day simple moving average of $770.83 and a two-hundred day simple moving average of $785.24. The company has a market capitalization of $79.57 billion, a P/E ratio of 74.21, a price-to-earnings-growth ratio of 1.28 and a beta of 1.06. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $953.41.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EQIX. Daiwa Capital Markets set a $917.00 price objective on shares of Equinix and gave the company an “outperform” rating in a report on Wednesday, October 22nd. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $915.00 price target on Equinix in a research note on Tuesday, January 6th. The Goldman Sachs Group cut Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective for the company. in a research note on Thursday, December 18th. Finally, UBS Group set a $959.00 price objective on Equinix in a report on Wednesday, January 14th. Three 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $959.64.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 1,333 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the completion of the sale, the insider owned 9,551 shares in the company, valued at approximately $7,681,391.75. This represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,894 shares of the firm’s 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 transaction, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. This trade represents a 18.96% 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 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.