SVB Wealth LLC Decreases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

SVB Wealth LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,134 shares of the financial services provider’s stock after selling 4,749 shares during the period. SVB Wealth LLC’s holdings in Equinix were worth $12,994,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Capital Analysts LLC increased its holdings in shares of Equinix by 0.9% in the fourth quarter. Capital Analysts LLC now owns 3,114 shares of the financial services provider’s stock worth $2,508,000 after buying an additional 28 shares during the period. Private Client Services LLC purchased a new position in Equinix during the 4th quarter valued at about $660,000. Keel Point LLC purchased a new position in Equinix during the 4th quarter valued at about $210,000. Dakota Wealth Management increased its holdings in Equinix by 23.7% during the 4th quarter. Dakota Wealth Management now owns 9,337 shares of the financial services provider’s stock valued at $7,520,000 after purchasing an additional 1,789 shares during the period. Finally, Vontobel Holding Ltd. increased its holdings in Equinix by 6.2% during the 4th quarter. Vontobel Holding Ltd. now owns 128,321 shares of the financial services provider’s stock valued at $103,348,000 after purchasing an additional 7,500 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EQIX. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a report on Wednesday, March 20th. Wells Fargo & Company boosted their price target on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Stifel Nicolaus restated a “buy” rating and set a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Finally, Morgan Stanley cut their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $868.72.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the transaction, the executive vice president now directly owns 1,242 shares in the company, valued at $1,034,548.74. The disclosure for this sale can be found here. Insiders have sold a total of 18,282 shares of company stock valued at $14,788,771 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Equinix Stock Down 1.0 %

Shares of EQIX traded down $7.12 during mid-day trading on Tuesday, reaching $736.99. The company had a trading volume of 116,053 shares, compared to its average volume of 554,323. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day moving average price of $842.19 and a 200 day moving average price of $802.12. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93. The company has a market capitalization of $69.73 billion, a price-to-earnings ratio of 72.17, a price-to-earnings-growth ratio of 1.82 and a beta of 0.58.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.31%. Equinix’s dividend payout ratio is currently 165.28%.

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.