Congress Wealth Management LLC DE Sells 504 Shares of Equinix, Inc. (NASDAQ:EQIX)

Congress Wealth Management LLC DE lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,389 shares of the financial services provider’s stock after selling 504 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Equinix were worth $3,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Equinix by 0.3% in the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after purchasing an additional 34,926 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after purchasing an additional 13,988 shares in the last quarter. Norges Bank bought a new position in Equinix in the fourth quarter worth $1,574,132,000. Principal Financial Group Inc. grew its stake in shares of Equinix by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock worth $1,156,193,000 after acquiring an additional 37,150 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Equinix by 1.4% in the fourth quarter. Wellington Management Group LLP now owns 992,401 shares of the financial services provider’s stock worth $799,270,000 after acquiring an additional 13,274 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of recent research reports. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research note on Wednesday, March 20th. Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Stifel Nicolaus reissued a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Barclays increased their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Finally, Oppenheimer increased their target price on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $872.33.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was 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 directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX traded up $3.08 on Monday, hitting $759.68. The stock had a trading volume of 387,743 shares, compared to its average volume of 598,875. The stock has a market cap of $72.10 billion, a price-to-earnings ratio of 76.20, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The business’s 50-day simple moving average is $755.85 and its two-hundred day simple moving average is $800.12. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.24%. Equinix’s payout ratio is 170.91%.

About Equinix

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.