PDS Planning Inc Cuts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

PDS Planning Inc trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536 shares of the financial services provider’s stock after selling 19 shares during the quarter. PDS Planning Inc’s holdings in Equinix were worth $506,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after acquiring an additional 5,910 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Equinix in the 3rd quarter worth $224,000. Empowered Funds LLC increased its holdings in Equinix by 8.9% in the 3rd quarter. Empowered Funds LLC now owns 2,100 shares of the financial services provider’s stock worth $1,864,000 after acquiring an additional 171 shares in the last quarter. Claro Advisors LLC purchased a new stake in Equinix in the 3rd quarter worth $251,000. Finally, Quest Partners LLC increased its holdings in Equinix by 173.0% in the 3rd quarter. Quest Partners LLC now owns 2,544 shares of the financial services provider’s stock worth $2,258,000 after acquiring an additional 1,612 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Down 1.9 %

NASDAQ EQIX opened at $841.26 on Wednesday. The firm’s 50-day moving average is $908.77 and its two-hundred day moving average is $909.04. Equinix, Inc. has a 12 month low of $684.14 and a 12 month 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 stock has a market capitalization of $81.88 billion, a P/E ratio of 98.39, a PEG ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated 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. This represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares in the company, 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. Over the last quarter, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EQIX shares. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Oppenheimer upped their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank upped 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 report on Monday, March 3rd. Finally, Wells Fargo & Company dropped their target price 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 given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $989.35.

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.