Equinix, Inc. (NASDAQ:EQIX) Stake Cut by Harbour Investments Inc.

Harbour Investments Inc. cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 24.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130 shares of the financial services provider’s stock after selling 42 shares during the quarter. Harbour Investments Inc.’s holdings in Equinix were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Inspire Trust Co. N.A. lifted its stake in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after buying an additional 11 shares during the last quarter. Rothschild Investment LLC lifted its stake in Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after buying an additional 11 shares during the last quarter. Ritholtz Wealth Management lifted its stake in Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after buying an additional 12 shares during the last quarter. Great Lakes Retirement Inc. lifted its stake in Equinix by 1.2% in the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after buying an additional 12 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after buying an additional 12 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQIX shares. Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. JMP Securities restated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $990.06.

Insider Activity

In other news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares in the company, valued at $13,859,135.73. This represents a 27.53 % 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 90 days. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $834.59 on Friday. The stock’s 50-day moving average price is $903.56 and its two-hundred day moving average price is $908.81. 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 company has a market cap of $81.23 billion, a PE ratio of 97.61, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

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