Wedbush Securities Inc. Reduces Position in Equinix, Inc. (NASDAQ:EQIX)

Wedbush Securities Inc. decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 13.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475 shares of the financial services provider’s stock after selling 73 shares during the period. Wedbush Securities Inc.’s holdings in Equinix were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC purchased a new position in shares of Equinix in the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the 4th quarter worth approximately $39,000. Sierra Ocean LLC acquired a new stake in Equinix during the 4th quarter valued at approximately $42,000. Thompson Investment Management Inc. purchased a new stake in shares of Equinix in the 4th quarter valued at $47,000. Finally, Key Financial Inc increased its stake in shares of Equinix by 30.4% in the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 14 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 1.0 %

Shares of EQIX opened at $740.07 on Wednesday. The stock has a 50 day moving average price of $873.71 and a 200 day moving average price of $903.85. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $72.03 billion, a price-to-earnings ratio of 86.56, a PEG ratio of 1.78 and a beta of 0.95.

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

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Transactions at Equinix

In other news, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the transaction, the chief financial officer now owns 22,076 shares of the company’s stock, valued at $20,085,186.32. This represents a 12.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 in the last quarter. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on EQIX. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Royal Bank of Canada boosted their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Mizuho lowered their price objective on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research report on Friday, March 28th. Finally, Scotiabank lifted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $1,007.59.

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.