White Pine Capital LLC Has $3.05 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

White Pine Capital LLC cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,230 shares of the financial services provider’s stock after selling 20 shares during the quarter. Equinix comprises about 1.0% of White Pine Capital LLC’s holdings, making the stock its 19th largest position. White Pine Capital LLC’s holdings in Equinix were worth $3,045,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after buying an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after purchasing an additional 398,494 shares in the last quarter. Adelante Capital Management LLC increased its stake in shares of Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after purchasing an additional 344,114 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 203,656 shares during the period. Finally, abrdn plc boosted its position in shares of Equinix by 49.2% in the fourth quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock valued at $437,563,000 after acquiring an additional 153,215 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Wells Fargo & Company dropped 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 note on Thursday. Finally, Barclays upped their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $994.82.

Equinix Price Performance

Equinix stock opened at $923.00 on Friday. The firm’s 50-day simple moving average is $936.92 and its 200 day simple moving average is $894.76. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The firm has a market capitalization of $89.06 billion, a PE ratio of 83.23, a P/E/G ratio of 2.23 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. On average, equities research analysts predict that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio is 199.30%.

Insider Activity

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is currently owned by insiders.

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.