Prime Capital Investment Advisors LLC Trims Position in Equinix, Inc. $EQIX

Prime Capital Investment Advisors LLC decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 68.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 865 shares of the financial services provider’s stock after selling 1,878 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Equinix were worth $678,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Guinness Asset Management LTD bought a new position in shares of Equinix in the 3rd quarter worth approximately $71,000. First Fiduciary Investment Counsel Inc. increased its holdings in Equinix by 7.9% during the third quarter. First Fiduciary Investment Counsel Inc. now owns 17,942 shares of the financial services provider’s stock valued at $14,053,000 after buying an additional 1,307 shares during the last quarter. W.H. Cornerstone Investments Inc. raised its position in Equinix by 15.1% in the third quarter. W.H. Cornerstone Investments Inc. now owns 1,182 shares of the financial services provider’s stock worth $926,000 after acquiring an additional 155 shares during the period. ABN AMRO Bank N.V. raised its position in Equinix by 1.5% in the third quarter. ABN AMRO Bank N.V. now owns 219,072 shares of the financial services provider’s stock worth $170,980,000 after acquiring an additional 3,310 shares during the period. Finally, HighPoint Advisor Group LLC boosted its stake in shares of Equinix by 3.1% during the 3rd quarter. HighPoint Advisor Group LLC now owns 624 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 19 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on EQIX shares. Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on Equinix in a research report on Tuesday, January 6th. Daiwa Securities Group set a $917.00 target price on shares of Equinix and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley initiated coverage on shares of Equinix in a research note on Thursday, October 16th. They set an “overweight” rating and a $950.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $959.64.

Equinix Stock Up 1.1%

NASDAQ EQIX opened at $857.74 on Tuesday. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $953.41. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. The stock has a market cap of $84.22 billion, a PE ratio of 78.55, a P/E/G ratio of 1.32 and a beta of 1.06. The stock’s 50 day moving average is $778.47 and its 200 day moving average is $786.39.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 1,333 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the completion of the transaction, the insider owned 9,551 shares in the company, valued at $7,681,391.75. This trade represents a 12.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the sale, the chief executive officer directly owned 12,366 shares in the company, valued at approximately $9,040,658.94. The trade was a 18.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,490 shares of company stock valued at $15,281,999 in the last quarter. Company insiders own 0.27% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.