Naviter Wealth LLC Sells 42 Shares of Equinix, Inc. (NASDAQ:EQIX)

Naviter Wealth LLC cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,518 shares of the financial services provider’s stock after selling 42 shares during the quarter. Equinix accounts for about 0.8% of Naviter Wealth LLC’s holdings, making the stock its 26th biggest holding. Naviter Wealth LLC’s holdings in Equinix were worth $5,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of EQIX. Fisher Asset Management LLC purchased a new position in shares of Equinix during the fourth quarter worth approximately $381,000. ICA Group Wealth Management LLC bought a new stake in Equinix in the fourth quarter worth $81,000. HighPoint Advisor Group LLC purchased a new stake in Equinix during the fourth quarter valued at about $471,000. Los Angeles Capital Management LLC grew its stake in shares of Equinix by 0.3% during the first quarter. Los Angeles Capital Management LLC now owns 14,199 shares of the financial services provider’s stock valued at $11,719,000 after buying an additional 36 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Equinix by 18.5% in the first quarter. GAMMA Investing LLC now owns 633 shares of the financial services provider’s stock worth $522,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Performance

NASDAQ EQIX traded down $0.28 on Thursday, hitting $879.92. 11,818 shares of the company traded hands, compared to its average volume of 528,537. The business’s 50 day moving average price is $852.23 and its 200-day moving average price is $796.23. The company has a market capitalization of $83.51 billion, a price-to-earnings ratio of 88.28, a P/E/G ratio of 2.13 and a beta of 0.71. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.04 earnings per share. Equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. Equinix’s dividend payout ratio is presently 170.91%.

Analyst Ratings Changes

Several brokerages have recently issued reports on EQIX. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. The Goldman Sachs Group upped their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Mizuho upped their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $907.21.

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.