Orion Portfolio Solutions LLC Sells 98 Shares of Equinix, Inc. (NASDAQ:EQIX)

Orion Portfolio Solutions LLC cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,567 shares of the financial services provider’s stock after selling 98 shares during the period. Orion Portfolio Solutions LLC’s holdings in Equinix were worth $2,421,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in Equinix during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Equinix during the fourth quarter valued at approximately $39,000. Sierra Ocean LLC bought a new stake in shares of Equinix during the fourth quarter valued at approximately $42,000. Dunhill Financial LLC raised its holdings in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.2 %

NASDAQ EQIX opened at $816.95 on Wednesday. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $79.52 billion, a PE ratio of 95.55, a P/E/G ratio of 1.78 and a beta of 0.74. The stock’s 50 day moving average is $891.61 and its 200 day moving average is $908.26.

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

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.30%. The ex-dividend date was Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 in the last quarter. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EQIX. Wells Fargo & Company lowered their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price on the stock in a research note on Thursday, March 27th. Truist Financial reduced their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Finally, BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $1,007.59.

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.