Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC decreased its position in Equinix, Inc. (NASDAQ:EQIXGet Rating) by 1.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,018 shares of the financial services provider’s stock after selling 20 shares during the period. Prudent Man Advisors LLC’s holdings in Equinix were worth $755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Byrne Asset Management LLC purchased a new position in Equinix during the fourth quarter worth $102,000. Steward Partners Investment Advisory LLC raised its stake in Equinix by 6.9% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 11,017 shares of the financial services provider’s stock valued at $8,171,000 after purchasing an additional 712 shares during the last quarter. Peterson Wealth Services purchased a new position in Equinix in the 1st quarter valued at about $211,000. Signaturefd LLC boosted its stake in shares of Equinix by 28.6% during the 1st quarter. Signaturefd LLC now owns 877 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 195 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Equinix during the first quarter worth about $32,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 50 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $651.91, for a total value of $32,595.50. Following the sale, the director now directly owns 17,563 shares in the company, valued at approximately $11,449,495.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $658.39, for a total value of $658,390.00. Following the transaction, the chief financial officer now directly owns 21,120 shares of the company’s stock, valued at $13,905,196.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 50 shares of the company’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $651.91, for a total transaction of $32,595.50. Following the completion of the sale, the director now owns 17,563 shares of the company’s stock, valued at approximately $11,449,495.33. The disclosure for this sale can be found here. Insiders sold 1,126 shares of company stock valued at $742,362 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Equinix from $860.00 to $880.00 in a research note on Friday, April 29th. TheStreet lowered shares of Equinix from a “b-” rating to a “c+” rating in a research report on Monday, June 13th. Jefferies Financial Group upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the company from $750.00 to $790.00 in a report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on Equinix from $785.00 to $750.00 in a report on Thursday, July 28th. Finally, StockNews.com cut Equinix from a “buy” rating to a “hold” rating in a report on Friday. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $818.31.

Equinix Stock Performance

Shares of EQIX opened at $697.51 on Friday. Equinix, Inc. has a 52-week low of $606.12 and a 52-week high of $885.26. The firm has a market capitalization of $63.52 billion, a PE ratio of 99.22, a P/E/G ratio of 3.10 and a beta of 0.48. The firm has a 50-day moving average price of $660.50 and a 200 day moving average price of $692.13. The company has a quick ratio of 1.91, a current ratio of 2.04 and a debt-to-equity ratio of 1.38.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 17th will be issued a $3.10 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $12.40 annualized dividend and a dividend yield of 1.78%. Equinix’s dividend payout ratio (DPR) is 176.39%.

About Equinix

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Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

See Also

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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