Naviter Wealth LLC Has $5.32 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Naviter Wealth LLC lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,603 shares of the financial services provider’s stock after purchasing an additional 1,251 shares during the period. Equinix accounts for 1.1% of Naviter Wealth LLC’s portfolio, making the stock its 19th largest holding. Naviter Wealth LLC’s holdings in Equinix were worth $5,318,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of EQIX. Valley National Advisers Inc. raised its stake in Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares during the period. Providence Capital Advisors LLC bought a new position in Equinix during the third quarter worth about $29,000. Criterion Capital Advisors LLC acquired a new stake in shares of Equinix in the fourth quarter valued at approximately $32,000. Operose Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter valued at $36,000. Finally, Asset Dedication LLC raised its stake in Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 25 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Equinix news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles J. Meyers sold 2,110 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the transaction, the chief executive officer now owns 10,115 shares in the company, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.9 %

Shares of NASDAQ:EQIX traded down $6.74 during mid-day trading on Monday, hitting $724.87. The company had a trading volume of 311,193 shares, compared to its average volume of 567,867. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The firm has a fifty day moving average price of $823.50 and a 200 day moving average price of $803.40. The company has a market capitalization of $68.59 billion, a PE ratio of 70.96, a price-to-earnings-growth ratio of 1.89 and a beta of 0.58.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.35%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is currently 165.28%.

Wall Street Analyst Weigh In

Several research firms have commented on EQIX. Morgan Stanley decreased their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Royal Bank of Canada lifted their price objective on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Wells Fargo & Company lifted their price target on Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Finally, Oppenheimer upped their price objective on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.