Gitterman Wealth Management LLC Sells 39 Shares of Equinix, Inc. (NASDAQ:EQIX)

Gitterman Wealth Management LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 238 shares of the financial services provider’s stock after selling 39 shares during the quarter. Gitterman Wealth Management LLC’s holdings in Equinix were worth $227,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares during the period. Victory Capital Management Inc. raised its holdings in Equinix by 14.9% in the 3rd quarter. Victory Capital Management Inc. now owns 44,651 shares of the financial services provider’s stock valued at $39,634,000 after acquiring an additional 5,786 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter valued at $224,000. CIBC Asset Management Inc grew its holdings in shares of Equinix by 8.1% during the 3rd quarter. CIBC Asset Management Inc now owns 13,987 shares of the financial services provider’s stock worth $12,415,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Equinix by 8.9% in the third quarter. Empowered Funds LLC now owns 2,100 shares of the financial services provider’s stock worth $1,864,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EQIX. Royal Bank of Canada increased their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial reduced their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Finally, Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Three 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $989.35.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the business’s 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 of the company’s stock, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their position. The disclosure for this sale can be found here. In 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.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $837.68 on Friday. The firm has a market cap of $81.53 billion, a PE ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The firm’s fifty day moving average is $912.40 and its 200-day moving average is $908.06. 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 (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side 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. Shareholders of record on Wednesday, February 26th will be issued 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 2.24%. Equinix’s dividend payout ratio (DPR) is presently 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.