PDS Planning Inc Cuts Position in Equinix, Inc. (NASDAQ:EQIX)

PDS Planning Inc trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 536 shares of the financial services provider’s stock after selling 19 shares during the quarter. PDS Planning Inc’s holdings in Equinix were worth $506,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Inspire Trust Co. N.A. lifted its holdings in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 11 shares during the period. Rothschild Investment LLC lifted its holdings in Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 11 shares during the period. GS Investments Inc. lifted its holdings in Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after acquiring an additional 12 shares during the period. Ritholtz Wealth Management lifted its holdings in Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 12 shares during the period. Finally, Great Lakes Retirement Inc. increased its position in shares of Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after buying an additional 12 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research analyst reports. Oppenheimer raised their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Truist Financial dropped their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Scotiabank raised their price target on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $989.35.

Insider Activity

In other news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the completion of the transaction, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Down 1.9 %

EQIX opened at $841.26 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $81.88 billion, a price-to-earnings ratio of 98.39, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The business has a 50-day moving average of $908.77 and a two-hundred day moving average of $909.04. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX) last posted 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%. On average, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm 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 $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.23%. Equinix’s payout ratio is 219.42%.

Equinix 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.