Sycomore Asset Management Purchases 1,679 Shares of Equinix, Inc. (NASDAQ:EQIX)

Sycomore Asset Management raised its position in Equinix, Inc. (NASDAQ:EQIX) by 20.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,916 shares of the financial services provider’s stock after buying an additional 1,679 shares during the quarter. Equinix comprises about 1.7% of Sycomore Asset Management’s portfolio, making the stock its 18th largest position. Sycomore Asset Management’s holdings in Equinix were worth $8,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley National Advisers Inc. grew its holdings 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 valued at $28,000 after purchasing an additional 26 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter valued at approximately $29,000. Criterion Capital Advisors LLC acquired a new stake in Equinix during the 4th quarter worth approximately $32,000. Operose Advisors LLC acquired a new stake in Equinix during the 3rd quarter worth approximately $36,000. Finally, Asset Dedication LLC boosted its position in Equinix by 92.6% during the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after buying an additional 25 shares during the period. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several recent research reports. BMO Capital Markets lifted their target price 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. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Wells Fargo & Company lifted their target price on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Royal Bank of Canada lifted their target price on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley dropped their price target on shares of 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $862.50.

Equinix Stock Down 0.7 %

NASDAQ EQIX traded down $5.06 on Wednesday, hitting $756.84. 775,655 shares of the company were exchanged, compared to its average volume of 565,545. The company has a market cap of $71.61 billion, a PE ratio of 73.41, a PEG ratio of 1.95 and a beta of 0.58. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The stock has a fifty day moving average of $828.73 and a 200-day moving average of $803.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.25%. Equinix’s payout ratio is 165.28%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now owns 14,002 shares in the company, valued at $11,661,425.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Charles J. Meyers sold 2,110 shares of the 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 completion of the sale, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the sale, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,585 shares of company stock worth $3,818,268. 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.