NWK Group Inc. Trims Position in Equinix, Inc. (NASDAQ:EQIX)

NWK Group Inc. reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,918 shares of the financial services provider’s stock after selling 100 shares during the period. NWK Group Inc.’s holdings in Equinix were worth $1,504,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Hall Private Wealth Advisors lifted its position in shares of Equinix by 1.2% during the 2nd quarter. Hall Private Wealth Advisors now owns 1,143 shares of the financial services provider’s stock valued at $896,000 after acquiring an additional 13 shares during the period. Veracity Capital LLC raised its holdings in Equinix by 4.1% during the second quarter. Veracity Capital LLC now owns 331 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 13 shares during the last quarter. Ten Capital Wealth Advisors LLC boosted its position in Equinix by 3.9% during the second quarter. Ten Capital Wealth Advisors LLC now owns 350 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 13 shares in the last quarter. Glassman Wealth Services grew its holdings in Equinix by 14.6% in the first quarter. Glassman Wealth Services now owns 110 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 14 shares during the last quarter. Finally, GS Investments Inc. increased its position in shares of Equinix by 0.6% in the first quarter. GS Investments Inc. now owns 2,323 shares of the financial services provider’s stock valued at $1,675,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 3,788 shares of Equinix stock in a transaction on Monday, October 30th. The stock was sold at an average price of $714.74, for a total value of $2,707,435.12. Following the transaction, the insider now owns 11,495 shares in the company, valued at $8,215,936.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Brandi Galvin Morandi sold 3,788 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $714.74, for a total value of $2,707,435.12. Following the transaction, the insider now owns 11,495 shares in the company, valued at $8,215,936.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $776.26, for a total transaction of $776,260.00. Following the completion of the transaction, the chief financial officer now directly owns 19,177 shares in the company, valued at approximately $14,886,338.02. The disclosure for this sale can be found here. Insiders sold a total of 7,622 shares of company stock worth $5,705,011 in the last ninety days. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on EQIX. Wells Fargo & Company lowered their price objective on shares of Equinix from $810.00 to $740.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. Scotiabank started coverage on shares of Equinix in a research report on Friday, October 13th. They issued a “sector outperform” rating and a $856.00 price target on the stock. TheStreet downgraded Equinix from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Raymond James upped their target price on Equinix from $885.00 to $910.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 3rd. Finally, JPMorgan Chase & Co. raised their price target on Equinix from $825.00 to $900.00 in a research report on Friday, August 4th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $824.10.

Equinix Trading Up 0.5 %

Shares of EQIX traded up $4.09 during mid-day trading on Monday, hitting $778.73. The company had a trading volume of 29,676 shares, compared to its average volume of 396,902. Equinix, Inc. has a 1-year low of $640.92 and a 1-year high of $821.63. The business’s 50-day simple moving average is $741.33 and its 200-day simple moving average is $757.03. The stock has a market cap of $73.11 billion, a PE ratio of 83.29, a P/E/G ratio of 1.52 and a beta of 0.62. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.32.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from Equinix’s previous quarterly dividend of $3.41. This represents a $17.04 annualized dividend and a dividend yield of 2.19%. Equinix’s payout ratio is currently 183.23%.

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.