SVB Wealth LLC Has $12.99 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

SVB Wealth LLC trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

A number of other hedge funds also recently made changes to their positions in EQIX. Sequoia Financial Advisors LLC lifted its position in shares of Equinix by 15.5% in the first quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider’s stock valued at $509,000 after buying an additional 92 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of Equinix by 5.3% in the first quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider’s stock valued at $867,000 after buying an additional 59 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Equinix by 182.8% during the 1st quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 170 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Equinix by 10.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 16 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Equinix by 300.0% during the 1st quarter. Covestor Ltd now owns 172 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 129 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the sale, the insider now owns 14,067 shares in the company, valued at approximately $11,252,474.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the sale, the insider now owns 14,067 shares in the company, valued at approximately $11,252,474.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,282 shares of company stock worth $14,788,771. Insiders own 0.32% of the company’s stock.

Equinix Price Performance

Shares of EQIX traded down $7.12 during midday trading on Tuesday, hitting $736.99. The company’s stock had a trading volume of 116,053 shares, compared to its average volume of 554,323. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The company’s fifty day simple moving average is $842.19 and its two-hundred day simple moving average is $802.12. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $69.73 billion, a price-to-earnings ratio of 72.17, a price-to-earnings-growth ratio of 1.82 and a beta of 0.58.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a dividend yield of 2.31%. Equinix’s payout ratio is 165.28%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Royal Bank of Canada lifted their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. BMO Capital Markets lifted their price target on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Stifel Nicolaus reissued a “buy” rating and set a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Finally, HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target for the company. in a report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $868.72.

About Equinix

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.