Concord Wealth Partners Sells 17 Shares of Equinix, Inc. (NASDAQ:EQIX)

Concord Wealth Partners lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165 shares of the financial services provider’s stock after selling 17 shares during the period. Concord Wealth Partners’ holdings in Equinix were worth $133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valley National Advisers Inc. boosted its stake in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after buying an additional 26 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in Equinix during the third quarter worth approximately $29,000. Criterion Capital Advisors LLC purchased a new position in shares of Equinix during the fourth quarter valued at approximately $32,000. Operose Advisors LLC purchased a new position in shares of Equinix during the third quarter valued at approximately $36,000. Finally, Asset Dedication LLC boosted its position in shares of Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after buying an additional 25 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the transaction, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the transaction, the executive vice president now owns 1,242 shares in the company, valued at $1,034,548.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock worth $3,818,268 in the last 90 days. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EQIX shares. Stifel Nicolaus reissued a “buy” rating and issued a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Royal Bank of Canada upped their price target on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Barclays lowered their target price on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Truist Financial increased their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a research note on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus price target of $862.50.

Equinix Stock Up 0.5 %

EQIX stock opened at $698.70 on Friday. The company has a market cap of $66.11 billion, a price-to-earnings ratio of 67.77, a PEG ratio of 1.79 and a beta of 0.62. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The firm has a 50-day moving average of $811.00 and a two-hundred day moving average of $801.59.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.44%. Equinix’s dividend payout ratio is currently 165.28%.

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.