Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,789 shares of the financial services provider’s stock after acquiring an additional 186 shares during the quarter. Equinix makes up 0.9% of Naviter Wealth LLC’s investment portfolio, making the stock its 22nd biggest holding. Naviter Wealth LLC’s holdings in Equinix were worth $5,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Equinix by 0.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after purchasing an additional 1,159 shares during the last quarter. Aew Capital Management L P raised its stake in Equinix by 0.8% during the 4th quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock valued at $250,286,000 after acquiring an additional 2,503 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in Equinix during the 4th quarter valued at approximately $3,724,000. Braun Stacey Associates Inc. raised its stake in Equinix by 12.5% during the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after acquiring an additional 3,591 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Equinix during the 1st quarter valued at approximately $15,187,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Down 0.4 %

Shares of Equinix stock traded down $3.30 during trading hours on Tuesday, hitting $756.38. 372,142 shares of the company’s stock traded hands, compared to its average volume of 597,238. The stock has a 50 day simple moving average of $755.95 and a 200-day simple moving average of $799.79. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a market cap of $71.79 billion, a PE ratio of 75.87, a PEG ratio of 2.63 and a beta of 0.68. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.25%. Equinix’s dividend payout ratio is presently 170.91%.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on EQIX. Morgan Stanley reduced their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Oppenheimer upped 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. Royal Bank of Canada cut their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday. They set a “buy” rating and a $870.00 target price for the company. Finally, HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research note on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $872.33.

Equinix 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.