Equinix, Inc. (NASDAQ:EQIX) is Motley Fool Wealth Management LLC’s 10th Largest Position

Motley Fool Wealth Management LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,010 shares of the financial services provider’s stock after selling 6,443 shares during the quarter. Equinix makes up approximately 2.2% of Motley Fool Wealth Management LLC’s holdings, making the stock its 10th largest holding. Motley Fool Wealth Management LLC’s holdings in Equinix were worth $41,990,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock worth $11,941,418,000 after buying an additional 88,654 shares during the last quarter. State Street Corp raised its stake in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. grew its stake in Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EQIX. BMO Capital Markets decreased their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report 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. Wells Fargo & Company reduced their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Oppenheimer boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $990.06.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was 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 of the company’s stock, 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. Over the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Down 1.3 %

Equinix stock opened at $841.22 on Wednesday. The company’s 50-day moving average price is $901.48 and its two-hundred day moving average price is $909.76. The stock has a market cap of $81.88 billion, a price-to-earnings ratio of 98.39, a PEG 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 company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

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

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued 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 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

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.