NewEdge Wealth LLC Reduces Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

NewEdge Wealth LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,208 shares of the financial services provider’s stock after selling 117 shares during the quarter. NewEdge Wealth LLC’s holdings in Equinix were worth $1,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Equinix by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after purchasing an additional 34,926 shares during the last quarter. Geode Capital Management LLC grew its stake in Equinix by 1.2% during the 1st quarter. Geode Capital Management LLC now owns 2,004,008 shares of the financial services provider’s stock valued at $1,441,837,000 after purchasing an additional 23,150 shares during the last quarter. Principal Financial Group Inc. grew its stake in Equinix by 44.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after purchasing an additional 431,435 shares during the last quarter. Northern Trust Corp grew its stake in Equinix by 1.7% during the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock valued at $862,790,000 after purchasing an additional 20,241 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Equinix in the 4th quarter valued at about $725,557,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Price Performance

EQIX stock opened at $764.05 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $844.04 and a 200-day simple moving average of $801.95. The firm has a market capitalization of $72.30 billion, a PE ratio of 74.11, a price-to-earnings-growth ratio of 1.82 and a beta of 0.58. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.23%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insider Activity

In other news, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, the executive vice president now directly owns 1,242 shares in the company, valued at $1,034,548.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Equinix news, insider Michael Earl Campbell sold 2,199 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the transaction, the insider now directly owns 14,067 shares in the company, valued at $11,252,474.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now owns 1,242 shares in the company, valued at $1,034,548.74. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock worth $14,788,771 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EQIX shares. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Royal Bank of Canada boosted their price objective on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Wells Fargo & Company boosted their price objective on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $868.72.

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.