Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Envestnet Portfolio Solutions Inc. lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,391 shares of the financial services provider’s stock after selling 843 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Equinix were worth $13,569,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in Equinix in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix during the fourth quarter valued at $42,000. Dunhill Financial LLC increased its position in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new position in Equinix in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

NASDAQ:EQIX opened at $837.68 on Monday. The stock has a 50 day moving average of $912.40 and a two-hundred day moving average of $908.72. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market cap of $81.53 billion, a P/E ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued 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 2.24%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EQIX shares. Wells Fargo & Company cut their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Stifel Nicolaus upped their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Truist Financial cut their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, Scotiabank upped their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $989.35.

Insider Activity

In other news, insider Kurt Pletcher sold 341 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the completion of the sale, the insider now owns 1,430 shares of the company’s stock, valued at $1,292,319.60. This represents a 19.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.