Charles Schwab Investment Management Inc. Sells 15,442 Shares of Equinix, Inc. (NASDAQ:EQIX)

Charles Schwab Investment Management Inc. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 958,961 shares of the financial services provider’s stock after selling 15,442 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.02% of Equinix worth $772,338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Valley National Advisers Inc. lifted its stake in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in Equinix during the 3rd quarter valued at about $29,000. Criterion Capital Advisors LLC bought a new stake in Equinix during the 4th quarter worth approximately $32,000. Operose Advisors LLC purchased a new stake in shares of Equinix in the third quarter worth approximately $36,000. Finally, Asset Dedication LLC lifted its holdings in shares of Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 25 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

NASDAQ:EQIX traded up $18.14 during mid-day trading on Tuesday, reaching $711.87. The stock had a trading volume of 629,249 shares, compared to its average volume of 596,912. The stock has a market capitalization of $67.36 billion, a P/E ratio of 69.05, a P/E/G ratio of 1.81 and a beta of 0.62. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The firm has a 50 day moving average price of $800.46 and a two-hundred day moving average price of $802.10. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Tuesday, February 27th. Equinix’s payout ratio is presently 165.28%.

Analysts Set New Price Targets

A number of research firms recently commented on EQIX. Stifel Nicolaus reissued a “buy” rating and issued a $960.00 price target on shares of Equinix in a research report on Wednesday, March 13th. BMO Capital Markets upped their price objective 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. Truist Financial lifted their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target for the company. in a research report on Wednesday, March 20th. Finally, Morgan Stanley cut their price objective 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. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $870.44.

Insiders Place Their Bets

In other Equinix news, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Equinix news, EVP Scott Crenshaw sold 460 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, 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 document filed with the SEC, which is available at this link. Also, CEO Charles J. Meyers sold 2,110 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares in the company, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock valued at $3,818,268 over the last three months. Insiders own 0.27% of the company’s stock.

Equinix Company 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.