Private Portfolio Partners LLC Sells 54 Shares of Equinix, Inc. (NASDAQ:EQIX)

Private Portfolio Partners LLC lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 881 shares of the financial services provider’s stock after selling 54 shares during the period. Private Portfolio Partners LLC’s holdings in Equinix were worth $831,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQIX. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the fourth quarter valued at $39,000. Sierra Ocean LLC purchased a new position in Equinix during the fourth quarter valued at approximately $42,000. Dunhill Financial LLC raised its holdings in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 0.2 %

Shares of EQIX stock opened at $816.95 on Wednesday. The stock has a market capitalization of $79.52 billion, a P/E ratio of 95.55, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a 50 day moving average price of $891.61 and a 200 day moving average price of $908.26.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. Equities research analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now directly owns 4,329 shares of the company’s stock, valued at $3,937,268.79. The trade was a 24.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. The trade was a 12.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on EQIX shares. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial dropped their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Buy” and an average target price of $1,007.59.

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.