GDS Wealth Management Sells 84 Shares of Equinix, Inc. (NASDAQ:EQIX)

GDS Wealth Management decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 20.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319 shares of the financial services provider’s stock after selling 84 shares during the quarter. GDS Wealth Management’s holdings in Equinix were worth $283,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. LRI Investments LLC purchased a new stake in shares of Equinix during the 1st quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix in the 2nd quarter valued at about $30,000. GHP Investment Advisors Inc. grew its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now directly owns 6,505 shares in the company, valued at approximately $5,886,959.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the transaction, the insider now owns 6,505 shares in the company, valued at approximately $5,886,959.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,632 shares of company stock valued at $10,633,777. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.8 %

Shares of EQIX opened at $913.50 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $877.98 and a 200-day simple moving average of $812.12. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The stock has a market cap of $88.14 billion, a price-to-earnings ratio of 82.37, a price-to-earnings-growth ratio of 2.31 and a beta of 0.71.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.87%. Equinix’s payout ratio is currently 153.65%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EQIX. BMO Capital Markets raised their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

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.