Kestra Private Wealth Services LLC Has $704,000 Stake in Equinix, Inc. (NASDAQ:EQIX)

Kestra Private Wealth Services LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 58.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 747 shares of the financial services provider’s stock after selling 1,062 shares during the period. Kestra Private Wealth Services LLC’s holdings in Equinix were worth $704,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in EQIX. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Dunhill Financial LLC lifted its position in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Thompson Investment Management Inc. acquired a new stake in Equinix during the fourth quarter worth $47,000. Finally, Friedenthal Financial bought a new stake in Equinix in the 4th quarter valued at $58,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix 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 transaction, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. The trade was a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the sale, the insider now directly owns 1,015 shares of the company’s stock, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock valued at $15,530,564 in the last 90 days. 0.27% of the stock is owned by insiders.

Equinix Trading Up 1.1 %

Shares of NASDAQ EQIX opened at $933.60 on Friday. The company’s 50 day simple moving average is $935.90 and its 200 day simple moving average is $894.96. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. 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 $90.08 billion, a P/E ratio of 84.18, a P/E/G ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, analysts predict that Equinix, Inc. will post 31.09 EPS for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several recent research reports. Scotiabank dropped their price target on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a research report on Thursday. Stifel Nicolaus increased their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Truist Financial upped their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, Royal Bank of Canada lifted their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $994.82.

Equinix Company 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.