Naviter Wealth LLC Acquires 1,251 Shares of Equinix, Inc. (NASDAQ:EQIX)

Naviter Wealth LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,603 shares of the financial services provider’s stock after purchasing an additional 1,251 shares during the quarter. Equinix accounts for approximately 1.1% of Naviter Wealth LLC’s investment portfolio, making the stock its 19th largest holding. Naviter Wealth LLC’s holdings in Equinix were worth $5,318,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Balentine LLC boosted its position in Equinix by 0.8% in the 3rd quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after buying an additional 14 shares during the period. Sage Mountain Advisors LLC grew its stake in Equinix by 3.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in Equinix by 0.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock valued at $2,021,000 after purchasing an additional 15 shares in the last quarter. Legacy Advisors LLC lifted its holdings in shares of Equinix by 1.6% in the 3rd quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after buying an additional 15 shares during the period. Finally, Arbor Capital Management Inc. ADV increased its stake in shares of Equinix by 0.8% during the third quarter. Arbor Capital Management Inc. ADV now owns 1,964 shares of the financial services provider’s stock valued at $1,396,000 after buying an additional 16 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the sale, the insider now owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the sale, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of Equinix stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the transaction, the chief executive officer now owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,585 shares of company stock worth $3,818,268. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on EQIX. Barclays dropped their target price on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Wolfe Research raised shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Truist Financial increased their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets boosted their price target on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Finally, Oppenheimer raised their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

Equinix Stock Performance

NASDAQ EQIX traded down $6.74 during trading hours on Monday, reaching $724.87. The stock had a trading volume of 311,193 shares, compared to its average volume of 567,867. Equinix, Inc. has a 52-week low of $672.88 and a 52-week high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $68.59 billion, a P/E ratio of 70.96, a price-to-earnings-growth ratio of 1.89 and a beta of 0.58. The stock has a fifty day moving average of $823.50 and a 200 day moving average of $803.40.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio is currently 165.28%.

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.