WESPAC Advisors LLC Lowers Position in Equinix, Inc. (NASDAQ:EQIX)

WESPAC Advisors LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 966 shares of the financial services provider’s stock after selling 117 shares during the quarter. WESPAC Advisors LLC’s holdings in Equinix were worth $911,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQIX. Private Advisor Group LLC grew its holdings in shares of Equinix by 37.3% during the 3rd quarter. Private Advisor Group LLC now owns 2,992 shares of the financial services provider’s stock worth $2,656,000 after purchasing an additional 813 shares during the period. International Assets Investment Management LLC purchased a new position in Equinix during the 3rd quarter valued at about $67,700,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Equinix by 36.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,336 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 355 shares during the period. CENTRAL TRUST Co boosted its holdings in Equinix by 396.0% during the 3rd quarter. CENTRAL TRUST Co now owns 1,002 shares of the financial services provider’s stock valued at $889,000 after acquiring an additional 800 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Equinix by 11.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,391 shares of the financial services provider’s stock valued at $3,010,000 after acquiring an additional 357 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on 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 transaction, the executive vice president now directly 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. Insiders have sold a total of 23,741 shares of company stock valued at $21,988,532 over the last quarter. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on EQIX. Truist Financial raised their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Scotiabank lowered their target price on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $994.82.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $919.68 on Friday. 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 fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a market capitalization of $89.51 billion, a PE ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The stock’s 50-day simple moving average is $931.27 and its 200-day simple moving average is $901.85.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.04%. Equinix’s payout ratio is 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.