Private Portfolio Partners LLC Sells 54 Shares of Equinix, Inc. (NASDAQ:EQIX)

Private Portfolio Partners LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 881 shares of the financial services provider’s stock after selling 54 shares during the quarter. Private Portfolio Partners LLC’s holdings in Equinix were worth $831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Equinix by 19.0% in the third quarter. D.A. Davidson & CO. now owns 846 shares of the financial services provider’s stock valued at $751,000 after buying an additional 135 shares during the period. CreativeOne Wealth LLC bought a new position in Equinix during the third quarter worth about $279,000. Edgestream Partners L.P. grew its stake in Equinix by 61.3% in the 3rd quarter. Edgestream Partners L.P. now owns 792 shares of the financial services provider’s stock valued at $703,000 after buying an additional 301 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Equinix by 157.8% during the 3rd quarter. Holocene Advisors LP now owns 7,109 shares of the financial services provider’s stock valued at $6,310,000 after purchasing an additional 4,351 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EQIX. Truist Financial decreased their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Mizuho reduced their target price on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $1,007.59.

Equinix Stock Up 0.2 %

Shares of NASDAQ:EQIX opened at $816.95 on Wednesday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The stock has a market capitalization of $79.52 billion, a price-to-earnings ratio of 95.55, a PEG ratio of 1.78 and a beta of 0.74. The stock has a fifty day simple moving average of $891.61 and a two-hundred day simple moving average of $908.26. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.30%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by insiders.

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.