Tucker Asset Management LLC Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Tucker Asset Management LLC lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167 shares of the financial services provider’s stock after selling 75 shares during the period. Tucker Asset Management LLC’s holdings in Equinix were worth $157,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in Equinix during the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new position in shares of Equinix during the 4th quarter valued at about $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix in the fourth quarter valued at about $42,000. Dunhill Financial LLC increased its position in Equinix by 108.7% during 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 during the last quarter. Finally, Thompson Investment Management Inc. purchased a new position in Equinix during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a research report on Thursday. Mizuho decreased their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, BMO Capital Markets lowered their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix presently has an average rating of “Buy” and a consensus target price of $1,007.59.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $803.00 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market capitalization of $78.16 billion, a P/E ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74. The company’s fifty day moving average price is $895.96 and its 200 day moving average price is $908.43.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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, sell-side 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.34%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the transaction, the insider now owns 1,430 shares in the company, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by company insiders.

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.