Shira Ridge Wealth Management Cuts Stake in Equinix, Inc. (NASDAQ:EQIX)

Shira Ridge Wealth Management trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 25.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 742 shares of the financial services provider’s stock after selling 255 shares during the quarter. Shira Ridge Wealth Management’s holdings in Equinix were worth $700,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the last quarter. Brookfield Corp ON raised its position in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after acquiring an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in shares of Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares during the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after purchasing an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management raised its position in shares of Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several recent research reports. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. BMO Capital Markets upped their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the completion of the transaction, the insider now directly owns 6,505 shares of the company’s stock, valued at approximately $5,886,959.95. This trade represents a 20.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is owned by insiders.

Equinix Trading Down 0.0 %

NASDAQ:EQIX opened at $899.65 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a market capitalization of $86.81 billion, a price-to-earnings ratio of 81.12, a price-to-earnings-growth ratio of 2.48 and a beta of 0.73. The stock has a fifty day simple moving average of $941.55 and a 200 day simple moving average of $873.29.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.89%. Equinix’s dividend payout ratio is presently 153.65%.

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.