Wealthfront Advisers LLC Boosts Holdings in Equinix, Inc. (NASDAQ:EQIX)

Wealthfront Advisers LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4,385.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 177,365 shares of the financial services provider's stock after purchasing an additional 173,411 shares during the period. Wealthfront Advisers LLC owned about 0.18% of Equinix worth $167,236,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in Equinix during the 4th quarter valued at $31,000. J.Safra Asset Management Corp acquired a new stake in Equinix in the 4th quarter worth approximately $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the fourth quarter valued at approximately $42,000. Dunhill Financial LLC lifted its position in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in shares of Equinix during the 4th quarter worth about $47,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kurt Pletcher sold 341 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the transaction, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares of the company's stock, valued at $13,859,135.73. This represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 over the last 90 days. Insiders own 0.27% of the company's stock.

Equinix Trading Down 3.4 %

Shares of NASDAQ:EQIX opened at $830.63 on Tuesday. The business's 50-day moving average is $920.94 and its 200 day moving average is $908.13. The firm has a market capitalization of $80.85 billion, a P/E ratio of 97.15, a P/E/G ratio of 1.78 and a beta of 0.74. 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 1 year low of $684.14 and a 1 year high of $994.03.

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Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results 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 net margin of 9.32% and a return on equity of 6.31%. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.26%. Equinix's payout ratio is currently 219.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Scotiabank increased their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Equinix has a consensus rating of "Buy" and a consensus target price of $989.35.

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.

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