Equinix, Inc. (NASDAQ:EQIX) Shares Sold by HGI Capital Management LLC

HGI Capital Management LLC lessened its holdings in Equinix, Inc. (NASDAQ:EQIX) by 46.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,151 shares of the financial services provider’s stock after selling 1,884 shares during the quarter. Equinix makes up about 2.0% of HGI Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. HGI Capital Management LLC’s holdings in Equinix were worth $1,732,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Valley National Advisers Inc. lifted its stake in Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in Equinix in the third quarter valued at $29,000. Criterion Capital Advisors LLC bought a new stake in Equinix in the fourth quarter valued at $32,000. Operose Advisors LLC bought a new stake in Equinix in the third quarter valued at $36,000. Finally, Asset Dedication LLC lifted its stake in Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

NASDAQ:EQIX traded down $9.44 during mid-day trading on Friday, reaching $753.39. 378,397 shares of the stock were exchanged, compared to its average volume of 555,384. The business has a fifty day moving average price of $759.01 and a 200 day moving average price of $805.07. The firm has a market capitalization of $71.50 billion, a PE ratio of 75.57, a PEG ratio of 2.63 and a beta of 0.68. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a $4.26 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.26%. Equinix’s dividend payout ratio is currently 170.91%.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EQIX shares. Oppenheimer lifted their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Wells Fargo & Company lifted their price objective on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. BMO Capital Markets lifted their price objective on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. TD Cowen cut their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Morgan Stanley cut their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $872.81.

Equinix 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.