Victory Capital Management Inc. Sells 291 Shares of Equinix, Inc. (NASDAQ:EQIX)

Victory Capital Management Inc. reduced its stake in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,741 shares of the financial services provider’s stock after selling 291 shares during the period. Victory Capital Management Inc.’s holdings in Equinix were worth $19,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. CoreCap Advisors LLC bought a new stake in shares of Equinix in the second quarter valued at approximately $25,000. Heritage Financial Services LLC bought a new stake in shares of Equinix in the second quarter valued at approximately $28,000. Better Money Decisions LLC bought a new stake in shares of Equinix in the second quarter valued at approximately $36,000. Crewe Advisors LLC boosted its stake in shares of Equinix by 190.0% in the second quarter. Crewe Advisors LLC now owns 58 shares of the financial services provider’s stock valued at $38,000 after buying an additional 38 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of Equinix by 65.4% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 86 shares of the financial services provider’s stock valued at $57,000 after buying an additional 34 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Camp Peter Van sold 462 shares of the firm’s stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $708.61, for a total transaction of $327,377.82. Following the sale, the chairman now directly owns 7,416 shares in the company, valued at approximately $5,255,051.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Equinix news, Chairman Camp Peter Van sold 462 shares of Equinix stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $708.61, for a total value of $327,377.82. Following the completion of the transaction, the chairman now directly owns 7,416 shares of the company’s stock, valued at approximately $5,255,051.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles J. Meyers sold 7,378 shares of Equinix stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $706.45, for a total transaction of $5,212,188.10. Following the completion of the transaction, the chief executive officer now directly owns 16,599 shares of the company’s stock, valued at $11,726,363.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,812 shares of company stock worth $11,839,270. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQIX. Royal Bank of Canada boosted their price objective on shares of Equinix from $668.00 to $720.00 and gave the company an “outperform” rating in a research report on Monday, November 14th. TheStreet raised shares of Equinix from a “c+” rating to a “b-” rating in a research report on Tuesday, December 13th. BNP Paribas initiated coverage on shares of Equinix in a research report on Wednesday, December 14th. They set an “outperform” rating and a $886.00 price objective on the stock. Credit Suisse Group increased their price objective on shares of Equinix from $571.00 to $591.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd. Finally, Citigroup lowered their target price on shares of Equinix from $810.00 to $750.00 in a report on Sunday, November 13th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $757.33.

Equinix Stock Up 0.5 %

Shares of Equinix stock opened at $719.62 on Wednesday. The company has a market cap of $66.59 billion, a price-to-earnings ratio of 94.07, a price-to-earnings-growth ratio of 2.73 and a beta of 0.60. The company’s 50 day moving average is $679.80 and its 200 day moving average is $642.58. Equinix, Inc. has a twelve month low of $494.89 and a twelve month high of $776.35. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.30.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 16th were given a $3.10 dividend. The ex-dividend date was Tuesday, November 15th. This represents a $12.40 annualized dividend and a yield of 1.72%. Equinix’s payout ratio is presently 162.09%.

Equinix Profile

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Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.