Wedge Capital Management L L P NC Sells 54 Shares of Equinix, Inc. (NASDAQ:EQIX)

Wedge Capital Management L L P NC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,678 shares of the financial services provider’s stock after selling 54 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Equinix were worth $4,573,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Balentine LLC increased its stake in Equinix by 0.8% during the 3rd quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 14 shares in the last quarter. Sage Mountain Advisors LLC increased its stake in Equinix by 3.9% during the 4th quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in Equinix by 0.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock valued at $2,021,000 after purchasing an additional 15 shares in the last quarter. Legacy Advisors LLC increased its stake in Equinix by 1.6% during the 3rd quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 15 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV increased its stake in Equinix by 0.8% during the 3rd quarter. Arbor Capital Management Inc. ADV now owns 1,964 shares of the financial services provider’s stock valued at $1,396,000 after purchasing an additional 16 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock valued at $3,818,268 over the last three months. 0.27% of the stock is owned by company insiders.

Equinix Trading Down 0.7 %

Shares of EQIX opened at $756.84 on Thursday. The company’s fifty day moving average is $828.73 and its 200 day moving average is $803.06. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93. The stock has a market capitalization of $71.61 billion, a PE ratio of 73.41, a P/E/G ratio of 1.97 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s payout ratio is 165.28%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. BMO Capital Markets raised their price target on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Royal Bank of Canada raised their price target on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Wolfe Research raised shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Finally, Oppenheimer raised their price target on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $862.50.

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.