EP Wealth Advisors LLC Lowers Stock Position in Equinix, Inc. (NASDAQ:EQIX)

EP Wealth Advisors LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287 shares of the financial services provider’s stock after selling 24 shares during the period. EP Wealth Advisors LLC’s holdings in Equinix were worth $271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC grew its position in Equinix by 1.9% during 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 period. Legacy Financial Advisors Inc. grew its position in Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after buying an additional 11 shares during the period. Ritholtz Wealth Management grew its position in Equinix by 1.8% during 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 period. Great Lakes Retirement Inc. grew its position in Equinix by 1.2% during 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 period. Finally, Lake Street Advisors Group LLC grew its position in Equinix by 1.6% during 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 period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EQIX. TD Securities increased their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, May 1st. Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. Finally, New Street Research upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $1,004.89.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kurt Pletcher sold 215 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares in the company, valued at $1,157,513.85. This represents a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,167 shares of company stock valued at $6,658,536 over the last three months. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.2%

Shares of Equinix stock opened at $868.79 on Wednesday. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a market cap of $84.98 billion, a price-to-earnings ratio of 101.61, a PEG ratio of 1.78 and a beta of 0.97. 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’s 50-day moving average price is $823.94 and its 200-day moving average price is $893.62.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the firm posted $8.86 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio is currently 195.01%.

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.