SVB Wealth LLC Invests $3.68 Million in Equinix, Inc. (NASDAQ:EQIX)

SVB Wealth LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,900 shares of the financial services provider’s stock, valued at approximately $3,678,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Kestra Investment Management LLC acquired a new position in Equinix during the 4th quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new stake in shares of Equinix during the fourth quarter worth $42,000. Dunhill Financial LLC grew its holdings in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the last quarter. Thompson Investment Management Inc. acquired a new position in shares of Equinix in the 4th quarter valued at $47,000. Finally, Key Financial Inc raised its stake in Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 14 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BMO Capital Markets cut their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company cut their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Barclays lifted their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Finally, Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $994.82.

Equinix Stock Performance

Shares of EQIX stock opened at $904.62 on Friday. The company has a market capitalization of $88.05 billion, a P/E ratio of 105.80, a P/E/G ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The business’s 50 day moving average is $928.20 and its two-hundred day moving average is $905.23. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,741 shares of company stock worth $21,988,532 in the last 90 days. Insiders own 0.27% of the company’s stock.

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.