White Pine Capital LLC Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

White Pine Capital LLC lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,272 shares of the financial services provider’s stock after selling 220 shares during the quarter. Equinix comprises 1.0% of White Pine Capital LLC’s holdings, making the stock its 20th largest position. White Pine Capital LLC’s holdings in Equinix were worth $2,635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Equinix by 44.6% during the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock worth $1,015,610,000 after buying an additional 431,435 shares in the last quarter. AMF Tjanstepension AB lifted its position in Equinix by 332.3% during the third quarter. AMF Tjanstepension AB now owns 161,998 shares of the financial services provider’s stock worth $117,666,000 after buying an additional 124,524 shares in the last quarter. Ameriprise Financial Inc. raised its position in Equinix by 27.3% in the third quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock valued at $313,461,000 after purchasing an additional 92,575 shares during the period. Nordea Investment Management AB raised its position in Equinix by 277.7% in the third quarter. Nordea Investment Management AB now owns 123,366 shares of the financial services provider’s stock valued at $90,493,000 after purchasing an additional 90,705 shares during the period. Finally, PGGM Investments raised its position in Equinix by 54.0% in the third quarter. PGGM Investments now owns 254,552 shares of the financial services provider’s stock valued at $184,871,000 after purchasing an additional 89,274 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

EQIX traded down $6.74 on Friday, hitting $731.61. 779,483 shares of the company traded hands, compared to its average volume of 563,003. The company has a 50 day moving average of $823.50 and a 200-day moving average of $802.62. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $69.22 billion, a PE ratio of 70.96, a PEG ratio of 1.90 and a beta of 0.58. Equinix, Inc. has a 12-month low of $672.88 and a 12-month high of $914.93.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.33%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio is presently 165.28%.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the sale, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Equinix news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at approximately $6,622,364.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles J. Meyers sold 2,110 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares in the company, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock valued at $3,818,268 in the last ninety days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on EQIX shares. Wells Fargo & Company boosted their target price on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Royal Bank of Canada lifted their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Oppenheimer lifted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. BMO Capital Markets lifted their price target on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, Barclays decreased their price target on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

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.