Naviter Wealth LLC Purchases 186 Shares of Equinix, Inc. (NASDAQ:EQIX)

Naviter Wealth LLC increased its position in Equinix, Inc. (NASDAQ:EQIX) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,789 shares of the financial services provider’s stock after acquiring an additional 186 shares during the quarter. Equinix comprises about 0.9% of Naviter Wealth LLC’s holdings, making the stock its 22nd biggest holding. Naviter Wealth LLC’s holdings in Equinix were worth $5,603,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EQIX. Iams Wealth Management LLC bought a new stake in Equinix during the first quarter valued at approximately $966,000. Miracle Mile Advisors LLC lifted its holdings in shares of Equinix by 1.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 9,470 shares of the financial services provider’s stock worth $7,816,000 after acquiring an additional 100 shares during the last quarter. Founders Financial Securities LLC lifted its holdings in shares of Equinix by 6.4% in the 1st quarter. Founders Financial Securities LLC now owns 677 shares of the financial services provider’s stock worth $559,000 after acquiring an additional 41 shares during the last quarter. Vicus Capital bought a new stake in shares of Equinix in the 1st quarter worth approximately $210,000. Finally, OneAscent Financial Services LLC lifted its holdings in shares of Equinix by 19.8% in the 1st quarter. OneAscent Financial Services LLC now owns 703 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 116 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Morgan Stanley decreased their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. TD Cowen decreased their target price on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Truist Financial lifted their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Royal Bank of Canada decreased their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $872.33.

Equinix Stock Down 0.4 %

Shares of NASDAQ:EQIX traded down $3.30 during midday trading on Tuesday, reaching $756.38. The company’s stock had a trading volume of 372,142 shares, compared to its average volume of 597,238. The firm has a 50 day moving average of $755.95 and a 200-day moving average of $799.79. The firm has a market capitalization of $71.79 billion, a P/E ratio of 75.87, a PEG ratio of 2.63 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio is presently 170.91%.

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.