Federated Hermes Inc. Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Federated Hermes Inc. reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,294 shares of the financial services provider’s stock after selling 854 shares during the quarter. Federated Hermes Inc.’s holdings in Equinix were worth $9,901,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CWM LLC boosted its stake in shares of Equinix by 6.5% in the third quarter. CWM LLC now owns 1,279 shares of the financial services provider’s stock valued at $929,000 after purchasing an additional 78 shares during the period. Ronald Blue Trust Inc. boosted its stake in shares of Equinix by 100.0% in the third quarter. Ronald Blue Trust Inc. now owns 86 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 43 shares during the period. Ritholtz Wealth Management boosted its stake in shares of Equinix by 9.3% in the third quarter. Ritholtz Wealth Management now owns 517 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 44 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of Equinix by 3.8% in the third quarter. Arkadios Wealth Advisors now owns 460 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 17 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Equinix in the third quarter valued at $292,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQIX has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a research note on Wednesday, March 20th. Royal Bank of Canada increased their price objective on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Truist Financial increased their price objective on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Wells Fargo & Company increased their price objective on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Up 0.9 %

Shares of NASDAQ:EQIX opened at $761.90 on Wednesday. The stock has a market capitalization of $72.09 billion, a price-to-earnings ratio of 73.90, a price-to-earnings-growth ratio of 1.94 and a beta of 0.58. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93. The company’s fifty day moving average is $830.25 and its two-hundred day moving average is $803.39. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were issued a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.24%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insider Buying and Selling

In related 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 sale, the chief executive officer now owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the sale, the chief financial officer now owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the sale, the chief executive officer now directly owns 10,115 shares in the company, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. Insiders have sold a total of 4,585 shares of company stock valued at $3,818,268 in the last quarter. Company insiders own 0.32% of the company’s stock.

About Equinix

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.