S.E.E.D. Planning Group LLC Sells 119 Shares of Equinix, Inc. (NASDAQ:EQIX)

S.E.E.D. Planning Group LLC reduced its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,178 shares of the financial services provider’s stock after selling 119 shares during the quarter. S.E.E.D. Planning Group LLC’s holdings in Equinix were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its holdings in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Equinix in the fourth quarter valued at $32,000. Operose Advisors LLC acquired a new position in shares of Equinix in the third quarter valued at $36,000. Rise Advisors LLC acquired a new position in shares of Equinix in the first quarter valued at $39,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Equinix in the fourth quarter valued at $49,000. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on EQIX shares. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. TD Cowen decreased their price target on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Morgan Stanley decreased their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Royal Bank of Canada decreased their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Barclays upped their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $872.50.

Equinix Price Performance

Shares of EQIX stock traded up $4.64 on Friday, reaching $756.60. The company had a trading volume of 1,146,810 shares, compared to its average volume of 474,262. The stock has a market capitalization of $71.81 billion, a PE ratio of 75.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The business’s 50-day moving average is $755.85 and its 200 day moving average is $800.20.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were issued a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.25%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

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.