Kestra Private Wealth Services LLC Cuts Stake in Equinix, Inc. (NASDAQ:EQIX)

Kestra Private Wealth Services LLC cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 747 shares of the financial services provider's stock after selling 1,062 shares during the period. Kestra Private Wealth Services LLC's holdings in Equinix were worth $704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Inspire Trust Co. N.A. grew its holdings in shares of Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 11 shares in the last quarter. GS Investments Inc. grew its holdings in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider's stock worth $2,087,000 after purchasing an additional 12 shares in the last quarter. Ritholtz Wealth Management grew its holdings in shares of Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock worth $633,000 after purchasing an additional 12 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock worth $35,000 after purchasing an additional 13 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 222 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares in the company, valued at approximately $976,633. This represents a 17.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares of the company's stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,701 shares of company stock worth $15,441,464. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQIX. Stifel Nicolaus upped their target price on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Scotiabank cut their target price on Equinix from $1,114.00 to $1,033.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. Citizens Jmp raised Equinix to a "strong-buy" rating in a research note on Monday, January 27th. TD Cowen upped their target price on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Evercore ISI upped their target price on Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Equinix has an average rating of "Buy" and a consensus price target of $994.82.

Equinix Trading Down 0.2 %

Shares of Equinix stock traded down $2.27 during midday trading on Tuesday, reaching $931.34. 144,436 shares of the company's stock traded hands, compared to its average volume of 494,909. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $89.86 billion, a PE ratio of 83.97, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The stock has a 50 day moving average of $934.17 and a 200-day moving average of $898.55. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. As a group, equities analysts expect that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed 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 an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.01%. Equinix's dividend payout ratio is 153.65%.

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.