PNC Financial Services Group Inc. Trims Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

PNC Financial Services Group Inc. cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,658 shares of the financial services provider’s stock after selling 208 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Equinix were worth $9,389,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Equinix in the fourth quarter worth $1,574,132,000. Ameriprise Financial Inc. increased its position in shares of Equinix by 27.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock worth $313,461,000 after purchasing an additional 92,575 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Equinix by 277.7% in the 3rd quarter. Nordea Investment Management AB now owns 123,366 shares of the financial services provider’s stock valued at $90,493,000 after purchasing an additional 90,705 shares in the last quarter. PGGM Investments lifted its position in shares of Equinix by 54.0% during the third quarter. PGGM Investments now owns 254,552 shares of the financial services provider’s stock worth $184,871,000 after purchasing an additional 89,274 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Equinix in the third quarter worth about $48,940,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Royal Bank of Canada lifted their price objective on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research report on Wednesday, March 20th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Finally, Wells Fargo & Company increased their price target on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $874.44.

Equinix Trading Down 1.4 %

Shares of EQIX stock opened at $781.46 on Thursday. The stock has a 50-day simple moving average of $774.47 and a 200 day simple moving average of $805.82. The stock has a market capitalization of $74.17 billion, a P/E ratio of 78.38, a P/E/G ratio of 2.76 and a beta of 0.62. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.18%. Equinix’s dividend payout ratio (DPR) is 170.91%.

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.