Moran Wealth Management LLC Has $2.59 Million Position in Equinix, Inc. $EQIX

Key Points

• Moran Wealth Management boosted its stake in Equinix by 1,048% during Q4, owning 3,375 shares valued at about $2.59 million.
• Institutional ownership is very high at 94.94%; notable increases include Duff & Phelps holding 478,333 shares (≈$366.48 million) and several other firms adding to their positions.
• Equinix slightly missed quarterly EPS and revenue estimates, raised its quarterly dividend to $5.16 (annualized $20.64, 1.9% yield), insiders sold 6,380 shares (~$6.18M) in the last 90 days, and analysts maintain a "Moderate Buy" consensus with a target of $1,046.57.

Moran Wealth Management LLC increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1,048.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,375 shares of the financial services provider's stock after acquiring an additional 3,081 shares during the period. Moran Wealth Management LLC's holdings in Equinix were worth $2,586,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Trivium Point Advisory LLC boosted its position in shares of Equinix by 53.9% during the 4th quarter. Trivium Point Advisory LLC now owns 1,170 shares of the financial services provider's stock valued at $896,000 after acquiring an additional 410 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Equinix by 32.0% during the 4th quarter. Merit Financial Group LLC now owns 2,498 shares of the financial services provider's stock valued at $1,915,000 after acquiring an additional 605 shares in the last quarter. Fisher Funds Management LTD boosted its position in shares of Equinix by 8.7% during the 4th quarter. Fisher Funds Management LTD now owns 22,503 shares of the financial services provider's stock valued at $17,263,000 after acquiring an additional 1,805 shares in the last quarter. Marion Wealth Management boosted its position in shares of Equinix by 4.9% during the 4th quarter. Marion Wealth Management now owns 1,321 shares of the financial services provider's stock valued at $1,045,000 after acquiring an additional 62 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of Equinix by 9.5% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 478,333 shares of the financial services provider's stock valued at $366,480,000 after acquiring an additional 41,568 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, insider Jonathan Lin sold 635 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.71, for a total value of $613,225.85. Following the completion of the transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 2,716 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the completion of the transaction, the chairman directly owned 12,594 shares of the company's stock, valued at approximately $12,155,099.10. This represents a 17.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,380 shares of company stock worth $6,179,022 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Equinix from $1,070.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday. Truist Financial reiterated a "buy" rating and set a $1,127.00 target price (up from $1,087.00) on shares of Equinix in a research report on Tuesday, March 31st. Stifel Nicolaus set a $1,075.00 target price on shares of Equinix in a research report on Thursday, February 12th. Jefferies Financial Group lifted their target price on shares of Equinix from $950.00 to $1,000.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Finally, UBS Group lifted their price target on shares of Equinix from $950.00 to $1,010.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,046.57.

Equinix Stock Performance

Shares of EQIX stock opened at $1,088.62 on Monday. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,093.03. The company has a market capitalization of $107.36 billion, a P/E ratio of 79.17, a P/E/G ratio of 2.77 and a beta of 1.01. The firm has a 50-day moving average price of $972.62 and a 200 day moving average price of $852.69. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the business earned $7.92 earnings per share. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal 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 issued a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $20.64 annualized dividend and a yield of 1.9%. This is an increase from Equinix's previous quarterly dividend of $4.69. Equinix's payout ratio is 150.11%.

About Equinix

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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