Prestige Wealth Management Group LLC Buys 171 Shares of Equinix, Inc. (NASDAQ:EQIX)

Prestige Wealth Management Group LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,352 shares of the financial services provider’s stock after acquiring an additional 171 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Equinix were worth $1,275,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares during the period. First Horizon Advisors Inc. increased its stake in Equinix by 76.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 39 shares in the last quarter. Cerity Partners LLC raised its holdings in Equinix by 64.7% during the third quarter. Cerity Partners LLC now owns 9,728 shares of the financial services provider’s stock worth $8,635,000 after buying an additional 3,820 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Equinix by 80.0% in the third quarter. Larson Financial Group LLC now owns 108 shares of the financial services provider’s stock valued at $96,000 after buying an additional 48 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in shares of Equinix by 34.4% during the third quarter. Summit Trail Advisors LLC now owns 809 shares of the financial services provider’s stock valued at $718,000 after buying an additional 207 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Up 2.1 %

Equinix stock opened at $852.44 on Tuesday. The stock has a market cap of $82.97 billion, a P/E ratio of 99.70, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm’s fifty day moving average price is $902.62 and its 200-day moving average price is $909.60. 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 issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

Insider Buying and Selling

In other news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurt Pletcher sold 341 shares of Equinix 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 completion of the transaction, the insider now owns 1,430 shares in the company, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EQIX shares. Royal Bank of Canada lifted their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Scotiabank increased 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. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Wells Fargo & Company decreased 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 note on Thursday, February 13th. Finally, Oppenheimer boosted their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $990.06.

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.