Equinix, Inc. $EQIX Stake Lessened by Freestone Capital Holdings LLC

Key Points

• Freestone Capital cut its stake in Equinix by 79.3% in Q4, selling 3,796 shares and leaving a 989‑share holding valued at $758,000.
• Insiders have been net sellers: Brandi Galvin Morandi sold 424 shares at about $1,020 and Jonathan Lin sold 635 shares at about $965.71, with insiders offloading 17,266 shares (~$14.93M) over the last quarter.
• Equinix raised its quarterly dividend to $5.16 (annualized $20.64, yield 2.0%) even as Q4 results slightly missed estimates (EPS $8.91 vs. $9.07; revenue $2.42B vs. $2.46B) and analysts hold a consensus "Moderate Buy" with a $1,033.57 price target.

Freestone Capital Holdings LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 79.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 989 shares of the financial services provider's stock after selling 3,796 shares during the period. Freestone Capital Holdings LLC's holdings in Equinix were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tyche Wealth Partners LLC bought a new position in shares of Equinix in the fourth quarter valued at approximately $310,000. Natural Investments LLC boosted its holdings in shares of Equinix by 29.9% in the fourth quarter. Natural Investments LLC now owns 387 shares of the financial services provider's stock valued at $296,000 after acquiring an additional 89 shares in the last quarter. Patton Fund Management Inc. boosted its holdings in shares of Equinix by 14.9% in the fourth quarter. Patton Fund Management Inc. now owns 300 shares of the financial services provider's stock valued at $230,000 after acquiring an additional 39 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Equinix by 25.9% in the fourth quarter. Assetmark Inc. now owns 986 shares of the financial services provider's stock valued at $756,000 after acquiring an additional 203 shares in the last quarter. Finally, Transcend Capital Advisors LLC bought a new position in shares of Equinix in the fourth quarter valued at approximately $228,000. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 424 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $1,020.00, for a total value of $432,480.00. Following the completion of the sale, the insider owned 9,970 shares in the company, valued at $10,169,400. This represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Lin sold 635 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the completion of the sale, the insider owned 10,788 shares of the company's stock, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 17,266 shares of company stock worth $14,927,320. Insiders own 0.27% of the company's stock.

Equinix Stock Up 0.1%

Shares of NASDAQ:EQIX opened at $1,057.37 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market cap of $104.28 billion, a PE ratio of 76.90, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,060.07. The firm has a 50 day simple moving average of $957.53 and a 200 day simple moving average of $846.54.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $7.92 EPS. As a group, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were given a $5.16 dividend. This is a boost from Equinix's previous quarterly dividend of $4.69. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix's payout ratio is currently 150.11%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EQIX shares. Sanford C. Bernstein started coverage on shares of Equinix in a report on Thursday, March 5th. They issued an "outperform" rating and a $1,128.00 price objective for the company. Wall Street Zen cut shares of Equinix from a "hold" rating to a "sell" rating in a report on Saturday. The Goldman Sachs Group raised their target price on shares of Equinix from $785.00 to $894.00 and gave the stock a "neutral" rating in a report on Thursday, February 12th. Barclays raised their target price on shares of Equinix from $870.00 to $1,020.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 18th. Finally, Cantor Fitzgerald initiated coverage on shares of Equinix in a report on Thursday, April 9th. They set an "overweight" rating and a $1,173.00 target price for the company. Five equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,033.57.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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