Equinix, Inc. (NASDAQ:EQIX) Shares Sold by White Pine Capital LLC

White Pine Capital LLC cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.3% in the 4th quarter, Holdings Channel reports. The fund owned 3,272 shares of the financial services provider’s stock after selling 220 shares during the period. Equinix accounts for about 1.0% of White Pine Capital LLC’s investment portfolio, making the stock its 20th biggest position. White Pine Capital LLC’s holdings in Equinix were worth $2,635,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Balentine LLC grew its stake in shares of Equinix by 0.8% during the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock valued at $1,240,000 after acquiring an additional 14 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in Equinix by 3.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 14 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Equinix by 0.5% in the third quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock worth $2,021,000 after purchasing an additional 15 shares in the last quarter. Legacy Advisors LLC grew its stake in Equinix by 1.6% in the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 15 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV grew its stake in Equinix by 0.8% in the third quarter. Arbor Capital Management Inc. ADV now owns 1,964 shares of the financial services provider’s stock worth $1,396,000 after purchasing an additional 16 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX traded down $6.74 during mid-day trading on Friday, reaching $731.61. 779,483 shares of the company’s stock traded hands, compared to its average volume of 563,003. The business’s 50-day moving average price is $823.50 and its 200-day moving average price is $802.62. The stock has a market capitalization of $69.22 billion, a P/E ratio of 70.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.33%. Equinix’s payout ratio is 165.28%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EQIX. Truist Financial lifted their price target on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Oppenheimer raised their target price on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a report on Wednesday, March 20th. Finally, Morgan Stanley cut their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $862.50.

Insider Buying and Selling

In related news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles J. Meyers sold 2,110 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total value of $1,756,975.90. Following the sale, the chief executive officer now directly owns 10,115 shares in the company, valued at approximately $8,422,659.35. The disclosure for this sale can be found here. Insiders have sold a total of 4,585 shares of company stock valued at $3,818,268 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

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.