Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,562 shares of the financial services provider’s stock after selling 148 shares during the period. Arbor Capital Management Inc. ADV’s holdings in Equinix were worth $1,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GLOBALT Investments LLC GA purchased a new position in Equinix during the 4th quarter worth approximately $4,963,000. Corient Private Wealth LLC grew its stake in Equinix by 3.6% during the 4th quarter. Corient Private Wealth LLC now owns 7,402 shares of the financial services provider’s stock worth $6,981,000 after buying an additional 254 shares during the last quarter. Natixis Advisors LLC grew its stake in Equinix by 2.5% during the 4th quarter. Natixis Advisors LLC now owns 49,170 shares of the financial services provider’s stock worth $46,362,000 after buying an additional 1,202 shares during the last quarter. Greykasell Wealth Strategies Inc. purchased a new position in Equinix during the 4th quarter worth approximately $2,742,000. Finally, First National Trust Co grew its stake in Equinix by 3.8% during the 4th quarter. First National Trust Co now owns 7,539 shares of the financial services provider’s stock worth $7,108,000 after buying an additional 276 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This trade represents a 0.70 % 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 quarter. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $837.68 on Monday. The stock has a market cap of $81.53 billion, a price-to-earnings ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The business has a fifty day moving average of $912.40 and a 200-day moving average of $908.72.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, 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. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EQIX shares. 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 note on Monday, March 3rd. Truist Financial lowered 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, March 10th. Stifel Nicolaus lifted their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Equinix has an average rating of “Buy” and a consensus price target of $989.35.

About Equinix

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.