Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Welch & Forbes LLC

Welch & Forbes LLC grew its position in Equinix, Inc. (NASDAQ:EQIX) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,120 shares of the financial services provider’s stock after acquiring an additional 448 shares during the period. Welch & Forbes LLC’s holdings in Equinix were worth $5,734,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Aew Capital Management L P boosted its position in Equinix by 0.8% during the fourth quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock worth $250,286,000 after purchasing an additional 2,503 shares in the last quarter. Braun Stacey Associates Inc. grew its stake in Equinix by 12.5% in the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after acquiring an additional 3,591 shares during the period. Nordea Investment Management AB increased its holdings in Equinix by 9.8% in the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock worth $109,459,000 after acquiring an additional 12,129 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in Equinix by 127.8% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock worth $1,130,000 after acquiring an additional 787 shares during the period. Finally, TIAA Trust National Association lifted its holdings in Equinix by 126.8% during the fourth quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock valued at $3,417,000 after purchasing an additional 2,372 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research note on Wednesday, March 20th. Stifel Nicolaus restated a “buy” rating and set a $960.00 price target on shares of Equinix in a research report on Wednesday, March 13th. Royal Bank of Canada increased their price objective on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Oppenheimer boosted their target price on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Finally, Truist Financial increased their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. 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 company. According to data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $870.44.

Insider Buying and Selling at Equinix

In related news, CEO Charles J. Meyers sold 2,110 shares of Equinix stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at approximately $8,422,659.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at $8,422,659.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock valued at $3,818,268 in the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX traded up $18.14 during trading hours on Tuesday, reaching $711.87. 629,249 shares of the company’s stock were exchanged, compared to its average volume of 596,912. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $67.36 billion, a price-to-earnings ratio of 69.05, a P/E/G ratio of 1.81 and a beta of 0.62. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93. The company has a 50-day moving average of $800.46 and a 200 day moving average of $802.10.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

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.