Larson Financial Group LLC Sells 12 Shares of Equinix, Inc. (NASDAQ:EQIX)

Larson Financial Group LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 11.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96 shares of the financial services provider’s stock after selling 12 shares during the quarter. Larson Financial Group LLC’s holdings in Equinix were worth $91,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kestra Investment Management LLC bought a new position in shares of Equinix during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new position in shares of Equinix during the 4th quarter valued at approximately $39,000. Sierra Ocean LLC bought a new position in shares of Equinix during the 4th quarter valued at approximately $42,000. Dunhill Financial LLC boosted its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new position in shares of Equinix during the 4th quarter valued at approximately $47,000. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the transaction, the insider now owns 1,430 shares in the company, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,054 shares of company stock worth $17,466,950. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday. Stifel Nicolaus increased their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Barclays increased their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $989.35.

Equinix Stock Performance

EQIX stock opened at $854.99 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $917.05 and its two-hundred day simple moving average is $907.82. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market cap of $83.22 billion, a price-to-earnings ratio of 100.00, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.19%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

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.