Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 132,420 shares of the financial services provider’s stock after selling 12,501 shares during the period. Wells Fargo & Company MN’s holdings in Equinix were worth $124,858,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in 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 purchasing an additional 5,910 shares during the period. IHT Wealth Management LLC raised its holdings in shares of Equinix by 18.2% in the 3rd quarter. IHT Wealth Management LLC now owns 714 shares of the financial services provider’s stock valued at $633,000 after buying an additional 110 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in Equinix by 2.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,600 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 53 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Equinix during the 3rd quarter valued at about $276,000. Finally, Dunhill Financial LLC grew its position in Equinix by 108.7% in 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 in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Down 4.4 %

Equinix stock opened at $766.21 on Monday. The stock has a 50-day simple moving average of $883.46 and a 200-day simple moving average of $906.83. The company has a market capitalization of $74.58 billion, a P/E ratio of 89.62, a PEG ratio of 1.78 and a beta of 0.95. 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, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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 expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.45%. Equinix’s payout ratio is currently 219.42%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Barclays boosted their price target on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Truist Financial cut their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $1,007.59.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction 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 trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,054 shares of company stock valued at $17,466,950. Insiders own 0.27% of the company’s stock.

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.