Naviter Wealth LLC Lowers Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Naviter Wealth LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 18.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,329 shares of the financial services provider’s stock after selling 1,189 shares during the quarter. Naviter Wealth LLC’s holdings in Equinix were worth $5,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Equinix during the 4th quarter worth $2,470,000. PNC Financial Services Group Inc. raised its holdings in Equinix by 4.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,690 shares of the financial services provider’s stock worth $12,908,000 after purchasing an additional 522 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in Equinix by 3.2% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,703 shares of the financial services provider’s stock valued at $9,941,000 after purchasing an additional 304 shares during the period. Callan Family Office LLC acquired a new stake in Equinix in the fourth quarter valued at about $2,169,000. Finally, Welch & Forbes LLC lifted its position in Equinix by 1.4% in the fourth quarter. Welch & Forbes LLC now owns 18,000 shares of the financial services provider’s stock valued at $16,972,000 after purchasing an additional 256 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EQIX shares. Oppenheimer raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Truist Financial raised their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Wells Fargo & Company reduced their price objective on shares of 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. Finally, Scotiabank raised their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix presently has a consensus rating of “Buy” and a consensus target price of $995.24.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their position. 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 Equinix stock in a transaction 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 owns 6,579 shares in the company, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company’s stock.

Equinix Stock Down 1.4 %

EQIX stock opened at $859.52 on Friday. The stock has a market capitalization of $83.66 billion, a P/E ratio of 100.53, a PEG ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a 50 day moving average price of $923.05 and a two-hundred day moving average price of $906.88.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.18%. The ex-dividend date is Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

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.