Nicola Wealth Management LTD. Has $3.36 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Nicola Wealth Management LTD. increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,561 shares of the financial services provider’s stock after buying an additional 260 shares during the period. Nicola Wealth Management LTD.’s holdings in Equinix were worth $3,358,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC lifted its position in Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. lifted its position in Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after purchasing an additional 44,471 shares during the period. JPMorgan Chase & Co. lifted its position in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Equinix by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock valued at $1,107,860,000 after purchasing an additional 40,791 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This represents a 27.53 % 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 ninety days. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $910.58 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $88.63 billion, a P/E ratio of 106.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The company’s 50 day moving average price is $927.62 and its two-hundred day moving average price is $906.25. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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, analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.06%. Equinix’s dividend payout ratio (DPR) is 219.42%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EQIX. Truist Financial upped their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Stifel Nicolaus upped their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada increased their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $995.24.

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.