Equinix, Inc. (NASDAQ:EQIX) Stock Position Reduced by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,453 shares of the financial services provider’s stock after selling 2,037 shares during the quarter. Equinix makes up 2.3% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. Motley Fool Wealth Management LLC owned about 0.05% of Equinix worth $45,672,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cetera Investment Advisers increased its stake in Equinix by 220.6% in the first quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock valued at $6,699,000 after purchasing an additional 5,586 shares during the last quarter. Cetera Advisors LLC raised its stake in Equinix by 69.0% during the 1st quarter. Cetera Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $1,693,000 after acquiring an additional 838 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter valued at $30,000. Kingswood Wealth Advisors LLC lifted its position in Equinix by 42.0% in the second quarter. Kingswood Wealth Advisors LLC now owns 910 shares of the financial services provider’s stock valued at $689,000 after acquiring an additional 269 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Equinix by 8.5% in the second quarter. Park Avenue Securities LLC now owns 2,045 shares of the financial services provider’s stock valued at $1,547,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Earl Campbell sold 600 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $816.73, for a total value of $490,038.00. Following the completion of the transaction, the insider now owns 14,800 shares in the company, valued at $12,087,604. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,969 shares of company stock worth $10,033,525. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.1 %

Equinix stock opened at $963.65 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $92.98 billion, a price-to-earnings ratio of 86.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.72. The firm’s 50 day moving average price is $905.77 and its two-hundred day moving average price is $835.66. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EQIX shares. Scotiabank lifted their target price on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Truist Financial boosted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $962.56.

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.