Connecticut Wealth Management LLC Takes $437,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Connecticut Wealth Management LLC bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 543 shares of the financial services provider’s stock, valued at approximately $437,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aew Capital Management L P boosted its stake in shares of Equinix by 0.8% during the 4th quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock valued at $250,286,000 after buying an additional 2,503 shares during the last quarter. Braun Stacey Associates Inc. raised its position in shares of Equinix by 12.5% during the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after acquiring an additional 3,591 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Equinix by 9.8% during the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock valued at $109,459,000 after acquiring an additional 12,129 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Equinix by 127.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock valued at $1,130,000 after acquiring an additional 787 shares in the last quarter. Finally, TIAA Trust National Association raised its position in shares of Equinix by 126.8% during the 4th quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock valued at $3,417,000 after acquiring an additional 2,372 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EQIX shares. BMO Capital Markets upped their price target on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Morgan Stanley dropped their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Truist Financial upped their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Wells Fargo & Company increased their target price on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Finally, Royal Bank of Canada increased their target price on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $870.44.

Equinix Price Performance

EQIX stock traded down $6.28 during trading hours on Monday, hitting $693.90. 281,242 shares of the stock traded hands, compared to its average volume of 590,341. The stock has a 50-day simple moving average of $807.36 and a 200 day simple moving average of $802.13. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The company has a market cap of $65.66 billion, a P/E ratio of 67.91, a P/E/G ratio of 1.81 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.46%. Equinix’s dividend payout ratio is currently 165.28%.

Insider Activity at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the transaction, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the transaction, the chief executive officer now owns 10,115 shares in the company, valued at approximately $8,422,659.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock valued at $3,818,268 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Equinix Company 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.