Equinix, Inc. (NASDAQ:EQIX) Holdings Trimmed by Souders Financial Advisors

Souders Financial Advisors trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 32.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,816 shares of the financial services provider’s stock after selling 1,327 shares during the period. Souders Financial Advisors’ holdings in Equinix were worth $2,655,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Van ECK Associates Corp grew its holdings in shares of Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after acquiring an additional 1,716 shares in the last quarter. Brookfield Corp ON grew its stake in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Empowered Funds LLC increased its position in Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after purchasing an additional 404 shares during the last quarter. Thematics Asset Management lifted its holdings in shares of Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after buying an additional 6,000 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Equinix by 46.1% during the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock valued at $278,712,000 after acquiring an additional 92,975 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares in the company, valued at $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Equinix stock opened at $910.04 on Wednesday. The stock has a market cap of $88.58 billion, a price-to-earnings ratio of 106.44, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The business’s 50-day simple moving average is $926.82 and its 200 day simple moving average is $906.82.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.06%. Equinix’s payout ratio is 219.42%.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of recent research reports. Barclays raised their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Oppenheimer boosted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. BMO Capital Markets lowered their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Equinix has an average rating of “Buy” and an average price target of $995.24.

About Equinix

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.