Legacy Capital Wealth Partners LLC Reduces Holdings in Equinix, Inc. (NASDAQ:EQIX)

Legacy Capital Wealth Partners LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 306 shares of the financial services provider’s stock after selling 306 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Equinix were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC bought a new position in shares of Equinix in the 4th quarter worth approximately $341,000. CapWealth Advisors LLC grew its stake in Equinix by 0.7% in the fourth quarter. CapWealth Advisors LLC now owns 23,199 shares of the financial services provider’s stock worth $21,875,000 after purchasing an additional 150 shares during the period. Kessler Investment Group LLC raised its holdings in Equinix by 2.7% in the fourth quarter. Kessler Investment Group LLC now owns 7,044 shares of the financial services provider’s stock worth $6,642,000 after purchasing an additional 182 shares in the last quarter. Rhumbline Advisers lifted its position in Equinix by 0.5% during the fourth quarter. Rhumbline Advisers now owns 191,932 shares of the financial services provider’s stock valued at $180,971,000 after buying an additional 1,015 shares during the period. Finally, Bank Pictet & Cie Europe AG bought a new stake in shares of Equinix during the 4th quarter valued at $2,027,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EQIX shares. Barclays increased their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Evercore ISI lifted their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has an average rating of “Buy” and an average target price of $994.82.

Equinix Trading Up 1.1 %

NASDAQ:EQIX opened at $933.60 on Tuesday. The company has a market cap of $90.08 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a 50 day simple moving average of $934.88 and a two-hundred day simple moving average of $897.69. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data 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 8.34% and a net margin of 12.29%. Research analysts forecast that Equinix, Inc. will post 31.09 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.01%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the company’s 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 completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,701 shares of company stock worth $15,441,464. 0.27% of the stock is owned by company 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.