Equinix, Inc. (NASDAQ:EQIX) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,371 shares of the financial services provider’s stock after selling 21 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Equinix were worth $1,293,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of Equinix during the 4th quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix during the 4th quarter worth about $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix during the 4th quarter worth about $42,000. Dunhill Financial LLC grew its holdings in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Equinix during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Equinix stock opened at $830.63 on Tuesday. 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 stock has a market cap of $80.85 billion, a P/E ratio of 97.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The stock has a 50 day moving average of $920.94 and a 200-day moving average of $908.13.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating 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 expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio is currently 219.42%.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of research reports. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Stifel Nicolaus upped their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Scotiabank upped their price target on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $989.35.

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.