PFG Investments LLC Has $265,000 Stake in Equinix, Inc. $EQIX

Key Points

• PFG Investments LLC cut its stake in Equinix by 72.9% in Q4, selling 929 shares and leaving it with 345 shares worth about $265,000.
• Company insiders have been net sellers, offloading 6,380 shares worth roughly $6.18 million in the past 90 days, including recent sales by EVP Raouf Abdel and Chairman Charles J. Meyers.
• Equinix raised its quarterly dividend to $5.16 (annualized $20.64, yield 1.9%) and reported a Q4 EPS and revenue miss, but analysts still give a consensus rating of "Moderate Buy" with an average target of about $1,056.35.

PFG Investments LLC decreased its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 72.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345 shares of the financial services provider's stock after selling 929 shares during the period. PFG Investments LLC's holdings in Equinix were worth $265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Taylor Frigon Capital Management LLC lifted its holdings in Equinix by 6.0% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 2,397 shares of the financial services provider's stock valued at $1,836,000 after buying an additional 135 shares during the period. Steinberganna Wealth Management raised its holdings in shares of Equinix by 1.1% during the fourth quarter. Steinberganna Wealth Management now owns 1,866 shares of the financial services provider's stock valued at $1,430,000 after purchasing an additional 20 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Equinix by 57.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,679 shares of the financial services provider's stock valued at $1,287,000 after purchasing an additional 616 shares during the period. Tyche Wealth Partners LLC acquired a new position in shares of Equinix during the fourth quarter valued at about $310,000. Finally, Natural Investments LLC raised its holdings in shares of Equinix by 29.9% during the fourth quarter. Natural Investments LLC now owns 387 shares of the financial services provider's stock valued at $296,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 584 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the sale, the executive vice president owned 7,768 shares in the company, valued at approximately $7,501,479.92. This trade represents a 6.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 305 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $961.19, for a total transaction of $293,162.95. Following the completion of the sale, the chairman owned 12,594 shares of the company's stock, valued at approximately $12,105,226.86. This trade represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 6,380 shares of company stock worth $6,179,022. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on EQIX. Citigroup upped their price objective on shares of Equinix from $1,070.00 to $1,200.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Scotiabank lowered shares of Equinix from a "sector outperform" rating to a "sector perform" rating and upped their price objective for the company from $997.00 to $1,050.00 in a report on Tuesday, April 7th. BMO Capital Markets upped their price objective on shares of Equinix from $925.00 to $1,050.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Equinix in a report on Thursday, January 22nd. Finally, UBS Group upped their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,056.35.

Equinix Trading Down 0.9%

NASDAQ:EQIX opened at $1,094.34 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 firm has a market cap of $107.93 billion, a price-to-earnings ratio of 79.59, a price-to-earnings-growth ratio of 2.81 and a beta of 1.01. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,108.19. The firm has a 50-day moving average price of $982.30 and a two-hundred day moving average price of $857.25.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data 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 company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $7.92 EPS. On average, equities analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were paid a $5.16 dividend. This is a positive change 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 yield of 1.9%. Equinix's dividend payout ratio (DPR) is 150.11%.

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.

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.