Courier Capital LLC Trims Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Courier Capital LLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,148 shares of the financial services provider’s stock after selling 81 shares during the period. Courier Capital LLC’s holdings in Equinix were worth $2,535,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its stake in Equinix by 15.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 92 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Equinix by 5.3% in the first quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider’s stock valued at $867,000 after acquiring an additional 59 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Equinix by 182.8% in the first quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 170 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Equinix by 10.3% in the first quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 16 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Equinix by 300.0% during the first quarter. Covestor Ltd now owns 172 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The sale was disclosed in a filing with the SEC, which is available at this link. In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Camp Peter Van sold 420 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $808.56, for a total transaction of $339,595.20. Following the transaction, the chairman now owns 7,861 shares of the company’s stock, valued at $6,356,090.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,282 shares of company stock worth $14,788,771. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on EQIX. BMO Capital Markets increased their price objective on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Barclays decreased their price objective on Equinix from $788.00 to $781.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Stifel Nicolaus restated a “buy” rating and set a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Oppenheimer boosted their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price objective on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $869.00.

Equinix Trading Up 1.9 %

Shares of NASDAQ:EQIX opened at $815.31 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a market cap of $77.14 billion, a PE ratio of 79.08, a P/E/G ratio of 1.91 and a beta of 0.59. The business has a 50 day moving average of $849.93 and a 200-day moving average of $798.15. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is currently 165.28%.

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.