SVB Wealth LLC Lowers Stock Position in Equinix, Inc. (NASDAQ:EQIX)

SVB Wealth LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 22.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,134 shares of the financial services provider's stock after selling 4,749 shares during the period. SVB Wealth LLC's holdings in Equinix were worth $12,994,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in Equinix during the 4th quarter valued at about $725,557,000. Principal Financial Group Inc. lifted its holdings in shares of Equinix by 44.6% during the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider's stock valued at $1,015,610,000 after purchasing an additional 431,435 shares during the last quarter. Morgan Stanley boosted its position in shares of Equinix by 26.5% in the 4th quarter. Morgan Stanley now owns 854,549 shares of the financial services provider's stock worth $559,756,000 after purchasing an additional 179,023 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Equinix by 28.3% in the 1st quarter. Wellington Management Group LLP now owns 604,277 shares of the financial services provider's stock worth $448,144,000 after buying an additional 133,132 shares during the last quarter. Finally, Barclays PLC increased its position in Equinix by 157.5% during the 2nd quarter. Barclays PLC now owns 214,988 shares of the financial services provider's stock valued at $168,540,000 after buying an additional 131,503 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Stock Performance

EQIX stock traded down $1.97 during trading on Tuesday, reaching $742.14. The stock had a trading volume of 579,914 shares, compared to its average volume of 560,901. The firm has a market cap of $70.22 billion, a PE ratio of 71.98, a PEG ratio of 1.82 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock's 50 day moving average is $840.28 and its two-hundred day moving average is $802.23. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Tuesday, February 27th. Equinix's payout ratio is 165.28%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EQIX shares. Barclays cut their target price on Equinix from $788.00 to $781.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 15th. Oppenheimer increased their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an "outperform" rating in a research report on Wednesday, March 20th. Wolfe Research raised shares of Equinix from an "underperform" rating to a "peer perform" rating in a report on Tuesday, January 2nd. Stifel Nicolaus reiterated a "buy" rating and set a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an "equal weight" rating in a report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Equinix presently has an average rating of "Moderate Buy" and an average target price of $868.72.

Insider Activity at Equinix

In other Equinix news, EVP Jonathan Lin sold 624 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $809.66, for a total value of $505,227.84. Following the transaction, the executive vice president now directly owns 5,671 shares in the company, valued at $4,591,581.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equinix news, EVP Jonathan Lin sold 624 shares of the business's stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $809.66, for a total transaction of $505,227.84. Following the completion of the sale, the executive vice president now owns 5,671 shares of the company's stock, valued at $4,591,581.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 3,280 shares of the company's stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $800.66, for a total value of $2,626,164.80. Following the completion of the sale, the chief financial officer now owns 22,157 shares of the company's stock, valued at approximately $17,740,223.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,282 shares of company stock worth $14,788,771. 0.32% of the stock is owned by company insiders.

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.