Whittier Trust Co. of Nevada Inc. Reduces Holdings in Equinix, Inc. (NASDAQ:EQIX)

Whittier Trust Co. of Nevada Inc. trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 735 shares of the financial services provider’s stock after selling 21 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Equinix were worth $693,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kestra Investment Management LLC purchased a new position in shares of Equinix during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the 4th quarter worth approximately $39,000. Sierra Ocean LLC purchased a new stake in Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC grew its stake in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix in the 4th quarter worth approximately $47,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQIX has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Oppenheimer lifted their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $990.06.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated 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 directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 in the last quarter. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

NASDAQ:EQIX opened at $834.59 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $81.23 billion, a price-to-earnings ratio of 97.61, a PEG ratio of 1.78 and a beta of 0.74. The firm’s fifty day simple moving average is $903.56 and its 200 day simple moving average is $908.81. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.25%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

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.