Magnus Financial Group LLC Has $217,000 Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Magnus Financial Group LLC reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 269 shares of the financial services provider’s stock after selling 22 shares during the period. Magnus Financial Group LLC’s holdings in Equinix were worth $217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Valley National Advisers Inc. grew its position in 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 acquiring an additional 26 shares during the period. Providence Capital Advisors LLC bought a new position in Equinix during the 3rd quarter valued at about $29,000. Criterion Capital Advisors LLC bought a new position in Equinix during the 4th quarter valued at about $32,000. Operose Advisors LLC acquired a new position in Equinix in the third quarter valued at about $36,000. Finally, Asset Dedication LLC grew its stake in Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after buying an additional 25 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $726.34 on Tuesday. The company has a market capitalization of $68.73 billion, a price-to-earnings ratio of 70.45, a PEG ratio of 1.89 and a beta of 0.58. The business has a 50 day moving average of $820.91 and a 200 day moving average of $803.28. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Tuesday, February 27th. Equinix’s payout ratio is 165.28%.

Insider Activity at Equinix

In other Equinix news, EVP Scott Crenshaw sold 460 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, the executive vice president now owns 1,242 shares in the company, valued at approximately $1,034,548.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total transaction of $383,166.20. Following the sale, the executive vice president now directly owns 1,242 shares in the company, valued at approximately $1,034,548.74. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock worth $3,818,268 in the last three months. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

EQIX has been the topic of a number of recent analyst reports. 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. Wells Fargo & Company increased their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. BMO Capital Markets boosted their target price on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Barclays decreased their price target on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Morgan Stanley reduced their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $862.50.

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.