Motley Fool Wealth Management LLC Sells 2,969 Shares of Equinix, Inc. (NASDAQ:EQIX)

Motley Fool Wealth Management LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,397 shares of the financial services provider’s stock after selling 2,969 shares during the period. Equinix makes up 2.3% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. Motley Fool Wealth Management LLC owned about 0.06% of Equinix worth $44,650,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Valley National Advisers Inc. lifted its holdings in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares in the last quarter. Providence Capital Advisors LLC bought a new position in shares of Equinix in the 3rd quarter worth $29,000. Criterion Capital Advisors LLC bought a new position in shares of Equinix in the 4th quarter worth $32,000. Operose Advisors LLC bought a new position in shares of Equinix in the 3rd quarter worth $36,000. Finally, Asset Dedication LLC lifted its holdings in shares of Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Price Performance

NASDAQ:EQIX traded down $6.74 during mid-day trading on Friday, reaching $731.61. The stock had a trading volume of 779,483 shares, compared to its average volume of 563,003. The firm has a 50 day moving average price of $823.50 and a two-hundred day moving average price of $803.06. The stock has a market capitalization of $69.22 billion, a P/E ratio of 70.96, a P/E/G ratio of 1.89 and a beta of 0.58. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.33%. Equinix’s payout ratio is 165.28%.

Insider Buying and Selling

In related news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, the executive vice president now owns 1,242 shares in the company, valued at approximately $1,034,548.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Equinix news, EVP Scott Crenshaw sold 460 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the transaction, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock worth $3,818,268 in the last quarter. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial lifted their price objective on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Wells Fargo & Company lifted their price objective on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Oppenheimer raised their target price on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised their target price on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Barclays cut their target price on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $862.50.

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.