Shira Ridge Wealth Management Has $820,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Shira Ridge Wealth Management reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 994 shares of the financial services provider’s stock after selling 23 shares during the quarter. Shira Ridge Wealth Management’s holdings in Equinix were worth $820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Norges Bank acquired a new position in shares of Equinix during the fourth quarter worth approximately $1,574,132,000. AMF Tjanstepension AB lifted its holdings in shares of Equinix by 87.4% during the first quarter. AMF Tjanstepension AB now owns 308,991 shares of the financial services provider’s stock worth $255,114,000 after buying an additional 144,093 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Equinix by 296.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 144,596 shares of the financial services provider’s stock worth $116,456,000 after buying an additional 108,099 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Equinix by 27.3% during the third quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock worth $313,461,000 after buying an additional 92,575 shares during the last quarter. Finally, Heitman Real Estate Securities LLC lifted its holdings in shares of Equinix by 51.3% during the fourth quarter. Heitman Real Estate Securities LLC now owns 185,660 shares of the financial services provider’s stock worth $149,529,000 after buying an additional 62,989 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Equinix Stock Down 0.4 %

Shares of EQIX stock traded down $3.30 during trading hours on Tuesday, reaching $756.38. The company had a trading volume of 372,142 shares, compared to its average volume of 597,238. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. The business has a fifty day simple moving average of $755.95 and a 200-day simple moving average of $799.79. The company has a market cap of $71.79 billion, a price-to-earnings ratio of 75.87, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio is currently 170.91%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. The Goldman Sachs Group started coverage on Equinix in a research note on Monday. They issued a “buy” rating and a $870.00 target price for the company. TD Cowen decreased their price target on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Oppenheimer increased their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.