Tucker Asset Management LLC Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Tucker Asset Management LLC decreased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 31.0% in the 4th quarter, HoldingsChannel reports. The fund owned 167 shares of the financial services provider’s stock after selling 75 shares during the quarter. Tucker Asset Management LLC’s holdings in Equinix were worth $157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new position in Equinix in the fourth quarter valued at about $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix during the 4th quarter valued at approximately $42,000. Dunhill Financial LLC boosted its stake in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EQIX. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank increased 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 note on Monday, March 3rd. Wells Fargo & Company cut their target price 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. Mizuho dropped their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Equinix currently has a consensus rating of “Buy” and a consensus price target of $1,007.59.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now owns 15,233 shares in the company, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

EQIX opened at $803.00 on Friday. The company has a 50 day moving average of $895.96 and a two-hundred day moving average of $908.43. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market cap of $78.16 billion, a P/E ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.34%. Equinix’s dividend payout ratio (DPR) is 219.42%.

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.