GeoWealth Management LLC Grows Position in Equinix, Inc. (NASDAQ:EQIX)

GeoWealth Management LLC raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 18.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,223 shares of the financial services provider's stock after purchasing an additional 817 shares during the period. GeoWealth Management LLC's holdings in Equinix were worth $4,925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Equinix in the 4th quarter valued at approximately $1,067,270,000. Wellington Management Group LLP lifted its stake in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after purchasing an additional 401,991 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Equinix during the 4th quarter valued at $328,899,000. Proficio Capital Partners LLC bought a new stake in shares of Equinix during the fourth quarter valued at approximately $246,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after buying an additional 203,656 shares during the period. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup cut their price objective on shares of Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a research report on Thursday, March 27th. Mizuho reduced their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. 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 report on Thursday, February 13th. Finally, Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and an average target price of $1,004.94.

Equinix Stock Performance

NASDAQ:EQIX traded up $20.74 during trading hours on Wednesday, reaching $811.86. The company had a trading volume of 227,751 shares, compared to its average volume of 551,461. The firm has a market cap of $79.41 billion, a PE ratio of 94.95, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The business's 50 day moving average price is $841.89 and its 200-day moving average price is $896.22. 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 (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.31%. Equinix's dividend payout ratio (DPR) is 219.42%.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 215 shares of the company'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 completion of the sale, the insider now owns 1,245 shares of the company's stock, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, 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. In the last quarter, insiders have sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is owned by company insiders.

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.