Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Spire Wealth Management

Spire Wealth Management lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 15.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,089 shares of the financial services provider’s stock after buying an additional 1,090 shares during the quarter. Spire Wealth Management’s holdings in Equinix were worth $6,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Metis Global Partners LLC grew its position in shares of Equinix by 8.2% in the fourth quarter. Metis Global Partners LLC now owns 12,929 shares of the financial services provider’s stock valued at $10,413,000 after purchasing an additional 985 shares during the period. Connecticut Wealth Management LLC purchased a new stake in shares of Equinix in the fourth quarter valued at $437,000. Red Cedar Investment Management LLC grew its position in Equinix by 90.7% during the fourth quarter. Red Cedar Investment Management LLC now owns 2,006 shares of the financial services provider’s stock valued at $1,616,000 after acquiring an additional 954 shares during the period. AJOVista LLC purchased a new stake in Equinix during the fourth quarter valued at about $134,000. Finally, Sapient Capital LLC purchased a new stake in Equinix during the fourth quarter valued at about $206,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 0.9 %

Shares of NASDAQ EQIX traded down $6.45 during mid-day trading on Monday, reaching $693.73. The company had a trading volume of 799,013 shares, compared to its average volume of 596,539. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. 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 stock has a market capitalization of $65.64 billion, a PE ratio of 67.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62. The stock’s 50 day moving average is $807.36 and its 200-day moving average is $802.13.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQIX shares. 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 research report on Thursday, February 15th. Oppenheimer boosted their price objective on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial boosted their price objective on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Stifel Nicolaus restated a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada boosted their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $870.44.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 1,164 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the sale, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 over the last three months. 0.27% of the stock is currently owned by 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.