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

Spire Wealth Management lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.1% in the first quarter, Holdings Channel reports. The firm owned 1,324 shares of the financial services provider’s stock after selling 101 shares during the period. Spire Wealth Management’s holdings in Equinix were worth $1,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new stake in Equinix in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC grew its position in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 23 shares in the last quarter. Pacific Center for Financial Services grew its position in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in Equinix in the fourth quarter valued at approximately $39,000. Finally, Park Square Financial Group LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $785.11 on Friday. The business’s fifty day moving average price is $867.26 and its 200 day moving average price is $881.19. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The stock has a market capitalization of $76.80 billion, a PE ratio of 81.61, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the business posted $8.86 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.39%. The ex-dividend date was Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EQIX shares. Truist Financial lowered their price objective on shares of Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a research report on Monday, May 12th. New Street Research raised shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating for the company in a research report on Thursday. Mizuho lowered their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. Finally, Stifel Nicolaus reduced their target price on Equinix from $1,050.00 to $1,010.00 and set a “buy” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $977.30.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the sale, the chief executive officer now directly owns 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kurt Pletcher sold 127 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock worth $2,808,008 over the last ninety days. 0.27% of the stock is owned by insiders.

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.