NWK Group Inc. Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

NWK Group Inc. cut its position in Equinix, Inc. (NASDAQ:EQIX) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,400 shares of the financial services provider’s stock after selling 50 shares during the quarter. NWK Group Inc.’s holdings in Equinix were worth $1,320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norinchukin Bank The increased its stake in Equinix by 3.4% in the 4th quarter. Norinchukin Bank The now owns 8,347 shares of the financial services provider’s stock worth $7,870,000 after acquiring an additional 274 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Equinix by 398.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,262 shares of the financial services provider’s stock valued at $24,762,000 after purchasing an additional 20,989 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Equinix by 2.6% in the 4th quarter. Capital Research Global Investors now owns 1,098,700 shares of the financial services provider’s stock worth $1,035,953,000 after purchasing an additional 28,297 shares during the period. Ecofi Investissements SA increased its position in shares of Equinix by 50.0% during the 4th quarter. Ecofi Investissements SA now owns 150 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 50 shares during the last quarter. Finally, GeoWealth Management LLC raised its holdings in Equinix by 18.5% during the 4th quarter. GeoWealth Management LLC now owns 5,223 shares of the financial services provider’s stock valued at $4,925,000 after buying an additional 817 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now owns 1,245 shares of the company’s stock, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock worth $6,547,068 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Up 1.5 %

Equinix stock opened at $790.15 on Friday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The business has a fifty day moving average of $847.77 and a two-hundred day moving average of $897.45. The firm has a market cap of $77.29 billion, a P/E ratio of 92.42, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. On average, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is presently 219.42%.

Analyst Ratings Changes

Several research analysts have commented on EQIX shares. BMO Capital Markets dropped their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note 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. Citigroup decreased their price objective on shares of Equinix from $1,020.00 to $970.00 and set a “buy” rating for the company in a research note on Thursday. JMP Securities reaffirmed 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, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $1,005.50.

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.