Envestnet Asset Management Inc. Sells 5,686 Shares of Equinix, Inc. $EQIX

Envestnet Asset Management Inc. decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,014 shares of the financial services provider’s stock after selling 5,686 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Equinix worth $139,428,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EQIX. Campbell & CO Investment Adviser LLC grew its position in shares of Equinix by 21.1% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 67 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Equinix by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after buying an additional 7,409 shares during the period. Chilton Capital Management LLC grew its position in Equinix by 5.1% during the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock worth $28,908,000 after buying an additional 1,805 shares in the last quarter. Nordea Investment Management AB increased its stake in Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock worth $376,193,000 after acquiring an additional 32,790 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Equinix by 13.5% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock valued at $386,231,000 after acquiring an additional 57,630 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on EQIX. BMO Capital Markets upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective on the stock in a research report on Wednesday, December 3rd. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft set a $915.00 target price on shares of Equinix in a research report on Tuesday, January 6th. Barclays restated a “positive” rating and set a $870.00 price target on shares of Equinix in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $959.64.

Equinix Stock Performance

NASDAQ:EQIX opened at $848.12 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41. The firm has a market cap of $83.28 billion, a PE ratio of 77.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06. The business has a 50 day moving average price of $775.97 and a 200-day moving average price of $786.08.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 927 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $743,250.06. Following the completion of the sale, the executive vice president owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Keith D. Taylor sold 2,051 shares of Equinix stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the sale, the chief financial officer owned 26,373 shares in the company, valued at approximately $21,208,375.41. This trade represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 19,490 shares of company stock valued at $15,281,999. Company insiders own 0.27% of the company’s stock.

Equinix Company 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.