Legacy Capital Wealth Partners LLC Sells 306 Shares of Equinix, Inc. (NASDAQ:EQIX)

Legacy Capital Wealth Partners LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 306 shares of the financial services provider's stock after selling 306 shares during the period. Legacy Capital Wealth Partners LLC's holdings in Equinix were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock valued at $960,820,000 after purchasing an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock valued at $354,111,000 after purchasing an additional 398,494 shares in the last quarter. Adelante Capital Management LLC lifted its holdings in shares of Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider's stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Equinix by 49.2% in the fourth quarter. abrdn plc now owns 464,840 shares of the financial services provider's stock valued at $437,563,000 after purchasing an additional 153,215 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EQIX shares. Royal Bank of Canada upped their target price on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, Citizens Jmp upgraded Equinix to a "strong-buy" rating in a report on Monday, January 27th. 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 company. According to MarketBeat, Equinix presently has a consensus rating of "Buy" and a consensus price target of $994.82.

Insider Activity

In related news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the sale, the chief financial officer now owns 18,966 shares of the company's stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,741 shares of company stock valued at $21,988,532. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

Shares of Equinix stock traded down $20.57 on Friday, hitting $919.68. The stock had a trading volume of 664,034 shares, compared to its average volume of 505,680. 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 is $931.27 and its two-hundred day moving average is $901.04. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $89.51 billion, a price-to-earnings ratio of 107.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its 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 return on equity of 6.31% and a net margin of 9.32%. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. Equinix's dividend payout ratio is presently 199.30%.

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.