Prestige Wealth Management Group LLC Acquires 171 Shares of Equinix, Inc. (NASDAQ:EQIX)

Prestige Wealth Management Group LLC lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,352 shares of the financial services provider’s stock after purchasing an additional 171 shares during the period. Prestige Wealth Management Group LLC’s holdings in Equinix were worth $1,275,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after purchasing an additional 813,666 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Equinix in the 4th quarter valued at $328,899,000. Adelante Capital Management LLC raised its stake in Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after buying an additional 344,114 shares during the period. Proficio Capital Partners LLC bought a new position in Equinix during the fourth quarter worth about $246,000. Finally, JPMorgan Chase & Co. grew its stake in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQIX has been the topic of several research analyst reports. Truist Financial dropped their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Scotiabank upped their price objective on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Finally, Royal Bank of Canada lifted 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. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $990.06.

Equinix Price Performance

Shares of Equinix stock opened at $852.44 on Tuesday. The stock has a market capitalization of $82.97 billion, a price-to-earnings ratio of 99.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a 50-day simple moving average of $902.62 and a two-hundred day simple moving average of $909.60.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.20%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s dividend payout ratio is currently 219.42%.

Insider Buying and Selling at Equinix

In related news, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at $20,085,186.32. The trade was a 12.60 % 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, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. The trade was a 19.25 % 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 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.