Weatherly Asset Management L. P. Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Weatherly Asset Management L. P. reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,555 shares of the financial services provider’s stock after selling 45 shares during the period. Weatherly Asset Management L. P.’s holdings in Equinix were worth $4,474,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Braun Stacey Associates Inc. grew its position in Equinix by 12.5% in the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock worth $25,938,000 after purchasing an additional 3,591 shares during the period. Nordea Investment Management AB grew its position in shares of Equinix by 9.8% during the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock valued at $109,459,000 after acquiring an additional 12,129 shares during the period. Prime Capital Investment Advisors LLC grew its position in shares of Equinix by 127.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock valued at $1,130,000 after acquiring an additional 787 shares during the period. TIAA Trust National Association grew its position in shares of Equinix by 126.8% during the 4th quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock valued at $3,417,000 after acquiring an additional 2,372 shares during the period. Finally, DNB Asset Management AS grew its position in shares of Equinix by 20.3% during the 4th quarter. DNB Asset Management AS now owns 24,459 shares of the financial services provider’s stock valued at $19,699,000 after acquiring an additional 4,132 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $7.16 during mid-day trading on Tuesday, hitting $761.90. 662,870 shares of the company’s stock traded hands, compared to its average volume of 562,853. The company’s 50-day moving average is $831.66 and its two-hundred day moving average is $803.12. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $72.09 billion, a P/E ratio of 73.20, a PEG ratio of 1.94 and a beta of 0.58. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio is 165.28%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EQIX. Royal Bank of Canada boosted their price objective on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Morgan Stanley cut their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Barclays cut their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research report on Wednesday, March 20th. Finally, Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $862.50.

Insider Activity

In related news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now directly owns 7,968 shares in the company, valued at approximately $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now directly owns 7,968 shares in the company, valued at approximately $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the transaction, the insider now owns 14,002 shares in the company, valued at $11,661,425.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,585 shares of company stock worth $3,818,268. 0.27% of the stock is currently owned by corporate insiders.

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.