EverSource Wealth Advisors LLC Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

EverSource Wealth Advisors LLC reduced its holdings in Equinix, Inc. (NASDAQ:EQIX) by 28.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 324 shares of the financial services provider’s stock after selling 129 shares during the period. EverSource Wealth Advisors LLC’s holdings in Equinix were worth $267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQIX. DekaBank Deutsche Girozentrale increased its position in Equinix by 23.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 98,002 shares of the financial services provider’s stock worth $79,332,000 after purchasing an additional 18,387 shares during the last quarter. Cambridge Trust Co. increased its position in Equinix by 56.0% during the first quarter. Cambridge Trust Co. now owns 390 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 140 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in Equinix during the first quarter worth about $362,000. Soltis Investment Advisors LLC increased its position in Equinix by 6.4% during the first quarter. Soltis Investment Advisors LLC now owns 282 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 17 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in Equinix by 69.0% during the first quarter. Cetera Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 838 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of Equinix stock traded down $4.53 during trading on Friday, reaching $806.65. The company’s stock had a trading volume of 379,114 shares, compared to its average volume of 406,985. The company has a 50-day moving average price of $771.50 and a two-hundred day moving average price of $796.35. The firm has a market cap of $76.56 billion, a PE ratio of 80.91, a P/E/G ratio of 2.80 and a beta of 0.68. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.11%. Equinix’s payout ratio is 170.91%.

Analysts Set New Price Targets

Several research firms recently issued reports on EQIX. Barclays lifted their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. The Goldman Sachs Group began coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. Mizuho began coverage on shares of Equinix in a report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price objective for the company. Royal Bank of Canada dropped their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $873.20.

Insider Activity

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

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.