Shira Ridge Wealth Management Sells 255 Shares of Equinix, Inc. (NASDAQ:EQIX)

Shira Ridge Wealth Management lowered its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 25.6% during the fourth quarter, HoldingsChannel reports. The firm owned 742 shares of the financial services provider’s stock after selling 255 shares during the quarter. Shira Ridge Wealth Management’s holdings in Equinix were worth $700,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in shares of Equinix during the 2nd quarter worth approximately $3,743,000. Meeder Asset Management Inc. bought a new stake in Equinix during the second quarter worth $36,000. Federated Hermes Inc. lifted its stake in Equinix by 0.4% in the second quarter. Federated Hermes Inc. now owns 11,954 shares of the financial services provider’s stock valued at $9,044,000 after acquiring an additional 49 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Equinix by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 193,764 shares of the financial services provider’s stock valued at $146,602,000 after acquiring an additional 4,328 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Equinix by 1.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 490,221 shares of the financial services provider’s stock valued at $370,901,000 after purchasing an additional 9,290 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Down 0.0 %

Shares of EQIX opened at $899.65 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $941.55 and a two-hundred day simple moving average of $873.29. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a market capitalization of $86.81 billion, a PE ratio of 81.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.73.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.89%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares in the company, valued at $7,531,365. This represents a 9.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock valued at $7,906,218 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EQIX shares. Royal Bank of Canada upped their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Scotiabank raised their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and raised their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Barclays boosted their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, 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 research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

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.