Tidal Investments LLC Sells 271 Shares of Equinix, Inc. (NASDAQ:EQIX)

Tidal Investments LLC cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,505 shares of the financial services provider’s stock after selling 271 shares during the period. Tidal Investments LLC’s holdings in Equinix were worth $24,048,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in shares of Equinix in the 4th quarter worth $31,000. J.Safra Asset Management Corp bought a new position in shares of Equinix in the 4th quarter worth $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the 4th quarter worth $42,000. Thompson Investment Management Inc. bought a new position in shares of Equinix in the 4th quarter worth $47,000. Finally, Cary Street Partners Financial LLC bought a new position in shares of Equinix in the 4th quarter worth $52,000. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,167 shares of company stock worth $6,658,536. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, May 1st. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Wolfe Research upgraded Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price on the stock in a research note on Thursday, March 27th. Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, Equinix has an average rating of “Buy” and an average target price of $1,004.89.

Equinix Stock Up 1.0%

Shares of EQIX opened at $875.92 on Friday. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $85.68 billion, a price-to-earnings ratio of 102.45, a PEG ratio of 1.78 and a beta of 0.97. The stock’s 50-day moving average price is $825.46 and its 200-day moving average price is $892.74.

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

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.14%. Equinix’s payout ratio is 195.01%.

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.