Waterfront Capital Partners LLC Sells 14,700 Shares of Equinix, Inc. (NASDAQ:EQIX)

Waterfront Capital Partners LLC decreased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 34.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,601 shares of the financial services provider's stock after selling 14,700 shares during the quarter. Equinix makes up about 4.8% of Waterfront Capital Partners LLC's investment portfolio, making the stock its 5th largest position. Waterfront Capital Partners LLC's holdings in Equinix were worth $26,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of EQIX. Oppenheimer & Co. Inc. lifted its stake in shares of Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after acquiring an additional 3,212 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock worth $592,191,000 after buying an additional 2,560 shares in the last quarter. National Pension Service grew its holdings in shares of Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock worth $229,263,000 after buying an additional 3,164 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock worth $2,361,000 after buying an additional 404 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Equinix by 46.1% during the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider's stock worth $278,712,000 after buying an additional 92,975 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on 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. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 3,562 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the sale, the chairman now directly owns 15,513 shares of the company's stock, valued at $14,412,197.52. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EQIX shares. Mizuho decreased their price objective on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target for the company in a research report on Thursday, March 27th. Citizens Jmp raised Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Barclays boosted their target price on Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $1,004.94.

Equinix Price Performance

Equinix stock traded up $6.58 during trading hours on Monday, reaching $844.68. 520,998 shares of the stock were exchanged, compared to its average volume of 549,621. The company has a market cap of $82.62 billion, a P/E ratio of 98.79, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The stock has a 50 day moving average of $835.22 and a two-hundred day moving average of $895.32.

Equinix (NASDAQ:EQIX - Get Free Report) last announced 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 net margin of 9.32% and a return on equity of 6.31%. Equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio is 219.42%.

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.