Tilt Investment Management Holdings PBC Cuts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Tilt Investment Management Holdings PBC trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 384 shares of the financial services provider’s stock after selling 115 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Equinix were worth $309,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Valley National Advisers Inc. raised its stake in shares of Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 26 shares in the last quarter. Providence Capital Advisors LLC purchased a new position in Equinix in the third quarter worth $29,000. Operose Advisors LLC acquired a new position in shares of Equinix during the third quarter worth $36,000. Asset Dedication LLC lifted its holdings in shares of Equinix by 92.6% during the 3rd 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 during the last quarter. Finally, Quarry LP boosted its position in shares of Equinix by 237.5% in the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 38 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EQIX shares. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Barclays cut their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a report on Wednesday. HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research note on Wednesday, March 20th. Stifel Nicolaus restated a “buy” rating and set a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Finally, Oppenheimer lifted their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Seven 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Performance

Shares of EQIX stock traded up $4.39 on Thursday, hitting $738.95. The company had a trading volume of 245,301 shares, compared to its average volume of 555,967. The firm has a market cap of $69.92 billion, a P/E ratio of 71.25, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The company has a 50-day moving average price of $838.03 and a 200-day moving average price of $801.76. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s payout ratio is presently 165.28%.

Insiders Place Their Bets

In other news, CEO Charles J. Meyers sold 2,110 shares of Equinix stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the sale, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,585 shares of company stock worth $3,818,268. Corporate insiders own 0.32% of the company’s stock.

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.