Belpointe Asset Management LLC Reduces Stake in Equinix, Inc. (NASDAQ:EQIX)

Belpointe Asset Management LLC trimmed its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 311 shares of the financial services provider's stock after selling 349 shares during the period. Belpointe Asset Management LLC's holdings in Equinix were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mariner LLC grew its stake in Equinix by 2.9% during the 4th quarter. Mariner LLC now owns 70,389 shares of the financial services provider's stock valued at $66,361,000 after acquiring an additional 1,963 shares in the last quarter. Bragg Financial Advisors Inc lifted its stake in Equinix by 3.9% in the 4th quarter. Bragg Financial Advisors Inc now owns 5,834 shares of the financial services provider's stock worth $5,501,000 after purchasing an additional 220 shares in the last quarter. BTG Pactual Asset Management US LLC grew its position in shares of Equinix by 13.2% in the fourth quarter. BTG Pactual Asset Management US LLC now owns 2,029 shares of the financial services provider's stock valued at $1,913,000 after purchasing an additional 236 shares in the last quarter. Altman Advisors Inc. increased its holdings in shares of Equinix by 1.2% in the fourth quarter. Altman Advisors Inc. now owns 1,958 shares of the financial services provider's stock valued at $1,846,000 after purchasing an additional 23 shares during the last quarter. Finally, Sagespring Wealth Partners LLC purchased a new position in Equinix during the fourth quarter worth approximately $763,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other news, insider Kurt Pletcher sold 215 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares in the company, valued at $1,157,513.85. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,040 shares of company stock worth $6,547,068 in the last three months. Insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of EQIX traded up $11.48 during midday trading on Friday, reaching $790.15. 479,695 shares of the stock were exchanged, compared to its average volume of 553,477. The company has a market capitalization of $77.29 billion, a price-to-earnings ratio of 92.42, a PEG ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The business's 50-day moving average price is $847.77 and its 200 day moving average price is $897.53.

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 for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.37%. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target on the stock in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price objective on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank lifted their target price 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. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Equinix has an average rating of "Buy" and a consensus price target of $1,005.50.

Equinix 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.