Moran Wealth Management LLC Trims Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Moran Wealth Management LLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 94.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 233 shares of the financial services provider’s stock after selling 4,075 shares during the quarter. Moran Wealth Management LLC’s holdings in Equinix were worth $220,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares of the company’s stock, valued at $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 in the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Price Performance

EQIX stock opened at $854.99 on Thursday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $83.22 billion, a PE ratio of 100.00, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The business has a 50 day simple moving average of $917.05 and a 200-day simple moving average of $907.82.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given 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 yield of 2.19%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Analyst Ratings Changes

EQIX has been the topic of several recent analyst reports. Scotiabank increased their target price on shares of 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. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and a consensus target price of $989.35.

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.