E. Ohman J or Asset Management AB Cuts Stock Holdings in Equinix, Inc. $EQIX

Key Points

• E. Ohman Jor Asset Management cut its Equinix stake by 23% in the second quarter, selling 980 shares and retaining 3,281 shares valued at approximately $3.42 million. Institutional investors collectively own 94.94% of the company.
• Analysts remain broadly positive, with Equinix receiving a “Moderate Buy” consensus rating and an average price target of $1,196.20. Recent firms raised their targets as high as $1,265 per share.
• Equinix declared a quarterly dividend of $5.16 per share, equivalent to an annualized $20.64 dividend and a 2.0% yield. Insiders have sold 9,891 shares worth roughly $10.43 million over the past three months.

E. Ohman J or Asset Management AB decreased its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,281 shares of the financial services provider's stock after selling 980 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Equinix were worth $3,420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EQIX. Handelsbanken Fonder AB boosted its holdings in Equinix by 4.6% during the second quarter. Handelsbanken Fonder AB now owns 46,622 shares of the financial services provider's stock worth $48,598,000 after purchasing an additional 2,029 shares during the last quarter. Fulton Bank N.A. increased its stake in Equinix by 3.1% in the 2nd quarter. Fulton Bank N.A. now owns 328 shares of the financial services provider's stock valued at $342,000 after buying an additional 10 shares during the last quarter. Harrell Investment Partners LLC purchased a new stake in Equinix in the 2nd quarter valued at about $1,643,000. Everhart Financial Group Inc. lifted its position in shares of Equinix by 56.0% during the 2nd quarter. Everhart Financial Group Inc. now owns 744 shares of the financial services provider's stock worth $776,000 after buying an additional 267 shares in the last quarter. Finally, Everpar Advisors LLC boosted its stake in shares of Equinix by 13.3% in the 2nd quarter. Everpar Advisors LLC now owns 264 shares of the financial services provider's stock worth $275,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EQIX shares. Zacks Research lowered Equinix from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Cantor Fitzgerald boosted their price objective on Equinix from $1,186.00 to $1,211.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Stifel Nicolaus upped their price objective on Equinix from $1,250.00 to $1,265.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Scotiabank reaffirmed a "sector perform" rating and set a $1,208.00 target price on shares of Equinix in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada boosted their price target on shares of Equinix from $1,125.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Equinix currently has an average rating of "Moderate Buy" and an average target price of $1,196.20.

Insider Activity at Equinix

In other news, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the transaction, the executive vice president owned 5,728 shares in the company, valued at $6,206,116.16. This trade represents a 26.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 4,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total transaction of $4,077,120.00. Following the sale, the director owned 13,859 shares in the company, valued at $14,126,201.52. The trade was a 22.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,891 shares of company stock worth $10,430,452. Company insiders own 0.27% of the company's stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $1,032.40 on Wednesday. The company has a market capitalization of $101.87 billion, a P/E ratio of 66.48, a P/E/G ratio of 1.48 and a beta of 0.99. The business has a fifty day simple moving average of $1,049.75 and a two-hundred day simple moving average of $1,008.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Equinix's payout ratio is currently 132.90%.

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.

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