Equinix, Inc. $EQIX Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,172 shares of the financial services provider’s stock after selling 1,031 shares during the quarter. Naviter Wealth LLC’s holdings in Equinix were worth $4,729,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. increased its stake in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 26 shares during the period. Abound Wealth Management increased its stake in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 23 shares during the period. Princeton Global Asset Management LLC increased its stake in Equinix by 200.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 28 shares during the period. Cornerstone Planning Group LLC increased its stake in Equinix by 40.6% in the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 13 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in Equinix in the third quarter valued at $37,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Raouf Abdel sold 584 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.69, for a total transaction of $563,962.96. Following the sale, the executive vice president owned 7,768 shares of the company’s stock, valued at approximately $7,501,479.92. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Lin sold 635 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the sale, the insider directly owned 10,788 shares in the company, valued at approximately $10,418,079.48. This represents a 5.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,842 shares of company stock valued at $14,494,840 in the last quarter. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on EQIX. Barclays lifted their price objective on shares of Equinix from $870.00 to $1,020.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. UBS Group boosted their price target on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Truist Financial reiterated a “buy” rating and set a $1,127.00 price target (up from $1,087.00) on shares of Equinix in a research note on Tuesday, March 31st. Wall Street Zen upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research note on Tuesday, January 6th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $1,019.27.

Equinix Stock Down 0.9%

EQIX stock opened at $1,007.29 on Wednesday. The company has a market cap of $98.97 billion, a P/E ratio of 73.26, a P/E/G ratio of 2.57 and a beta of 1.01. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $1,016.39. The company’s 50-day moving average price is $935.16 and its 200 day moving average price is $837.88. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $7.92 EPS. On average, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a dividend of $5.16 per share. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 25th. Equinix’s payout ratio is presently 150.11%.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.