SVB Wealth LLC Takes Position in Equinix, Inc. (NASDAQ:EQIX)

SVB Wealth LLC bought a new position in Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,900 shares of the financial services provider’s stock, valued at approximately $3,678,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. State Street Corp raised its holdings in shares of Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its position in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. lifted its position in Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Equinix by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

EQIX opened at $904.62 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $928.20 and its 200-day simple moving average is $905.23. The company has a market capitalization of $88.05 billion, a price-to-earnings ratio of 105.80, a PEG ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Activity

In related news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the sale, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,741 shares of company stock worth $21,988,532. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on EQIX. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Wells Fargo & Company cut their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Finally, Barclays boosted their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $994.82.

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.