Truist Financial Corp Has $9.07 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Posted by Defense World Staff on Aug 11th, 2023

Truist Financial Corp decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,584 shares of the financial services provider’s stock after selling 3,345 shares during the quarter. Truist Financial Corp’s holdings in Equinix were worth $9,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in Equinix by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 1,980,858 shares of the financial services provider’s stock valued at $1,296,046,000 after buying an additional 61,918 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Equinix by 3.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,567,568 shares of the financial services provider’s stock valued at $1,026,804,000 after buying an additional 56,376 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Equinix by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,229,005 shares of the financial services provider’s stock valued at $805,046,000 after buying an additional 3,101 shares during the last quarter. Norges Bank acquired a new position in Equinix in the 4th quarter valued at $725,557,000. Finally, Legal & General Group Plc grew its stake in Equinix by 0.3% in the 4th quarter. Legal & General Group Plc now owns 1,050,876 shares of the financial services provider’s stock valued at $688,355,000 after buying an additional 2,847 shares during the last quarter. 94.56% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Down 0.1 %

Shares of NASDAQ:EQIX opened at $774.09 on Friday. Equinix, Inc. has a one year low of $494.89 and a one year high of $821.63. The company has a 50 day moving average of $779.50 and a 200-day moving average of $735.16. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.02 and a quick ratio of 2.28. The stock has a market cap of $72.43 billion, a price-to-earnings ratio of 89.33, a P/E/G ratio of 2.07 and a beta of 0.64.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 23rd will be paid a dividend of $3.41 per share. This represents a $13.64 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, August 22nd. Equinix’s payout ratio is 157.32%.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 4,835 shares of Equinix stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $748.64, for a total transaction of $3,619,674.40. Following the transaction, the insider now owns 15,608 shares of the company’s stock, valued at approximately $11,684,773.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Brandi Galvin Morandi sold 4,835 shares of Equinix stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $748.64, for a total transaction of $3,619,674.40. Following the transaction, the insider now owns 15,608 shares of the company’s stock, valued at approximately $11,684,773.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $758.00, for a total transaction of $758,000.00. Following the transaction, the chief financial officer now directly owns 22,177 shares in the company, valued at approximately $16,810,166. The disclosure for this sale can be found here. Insiders have sold 7,200 shares of company stock valued at $5,414,749 in the last 90 days. 0.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EQIX. Argus increased their price target on shares of Equinix from $720.00 to $795.00 in a report on Thursday, May 18th. Citigroup increased their price target on shares of Equinix from $825.00 to $830.00 in a report on Friday, May 5th. JPMorgan Chase & Co. increased their price target on shares of Equinix from $825.00 to $900.00 in a report on Friday, August 4th. Stifel Nicolaus increased their price target on shares of Equinix from $835.00 to $870.00 in a report on Thursday, June 22nd. Finally, Bank of America raised their price objective on shares of Equinix from $750.00 to $850.00 in a report on Friday, June 23rd. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $809.05.

View Our Latest Stock Report on EQIX

About Equinix

(Free Report)

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.