Segment Wealth Management LLC Reduces Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Segment Wealth Management LLC decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,245 shares of the financial services provider’s stock after selling 75 shares during the quarter. Segment Wealth Management LLC’s holdings in Equinix were worth $1,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Brighton Jones LLC purchased a new stake in shares of Equinix in the second quarter valued at about $202,000. Profund Advisors LLC grew its stake in shares of Equinix by 3.8% in the 2nd quarter. Profund Advisors LLC now owns 1,513 shares of the financial services provider’s stock valued at $1,145,000 after buying an additional 55 shares during the period. ProShare Advisors LLC grew its stake in shares of Equinix by 22.2% in the 2nd quarter. ProShare Advisors LLC now owns 19,143 shares of the financial services provider’s stock valued at $14,484,000 after buying an additional 3,478 shares during the period. Frank Rimerman Advisors LLC increased its holdings in shares of Equinix by 61,400.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,845 shares of the financial services provider’s stock worth $1,396,000 after buying an additional 1,842 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its position in shares of Equinix by 11.4% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,141 shares of the financial services provider’s stock valued at $890,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock opened at $915.59 on Tuesday. The business’s 50-day moving average is $941.64 and its two-hundred day moving average is $877.60. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $88.35 billion, a P/E ratio of 82.56, a P/E/G ratio of 2.18 and a beta of 0.73. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.86%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EQIX. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Scotiabank raised their price objective on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. JPMorgan Chase & Co. increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, TD Cowen boosted their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,412 shares of company stock worth $18,826,100 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.