Avior Wealth Management LLC Lowers Holdings in Equinix, Inc. (NASDAQ:EQIX)

Avior Wealth Management LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 13.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83 shares of the financial services provider’s stock after selling 13 shares during the quarter. Avior Wealth Management LLC’s holdings in Equinix were worth $74,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EQIX. Pathway Financial Advisers LLC boosted its stake in shares of Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after acquiring an additional 398,494 shares in the last quarter. Swedbank AB purchased a new stake in shares of Equinix during the 1st quarter worth about $294,526,000. Principal Financial Group Inc. boosted its stake in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Equinix by 104.6% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock worth $238,133,000 after acquiring an additional 160,906 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Equinix by 21.5% during the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after acquiring an additional 159,576 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

Equinix stock opened at $936.37 on Monday. The firm has a 50 day simple moving average of $891.74 and a 200-day simple moving average of $826.40. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $90.35 billion, a price-to-earnings ratio of 84.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.71.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Activity

In related news, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock valued at $11,666,756 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. BMO Capital Markets upped their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Finally, Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $952.88.

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.