Wendell David Associates Inc. Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Wendell David Associates Inc. boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 38.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,101 shares of the financial services provider’s stock after purchasing an additional 1,149 shares during the period. Wendell David Associates Inc.’s holdings in Equinix were worth $3,867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC grew its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Sugarloaf Wealth Management LLC increased its holdings in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Finally, Webster Bank N. A. increased its stake in shares of Equinix by 112.5% in the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In related news, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,412 shares of company stock worth $18,826,100 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank boosted their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. BMO Capital Markets lifted their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, TD Cowen increased their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $976.81.

Equinix Price Performance

NASDAQ EQIX opened at $925.23 on Thursday. The stock’s fifty day moving average price is $942.31 and its 200 day moving average price is $880.04. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $89.28 billion, a price-to-earnings ratio of 83.43, a PEG ratio of 2.22 and a beta of 0.73.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

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.