Watts Gwilliam & Co. LLC Sells 28 Shares of Equinix, Inc. (NASDAQ:EQIX)

Watts Gwilliam & Co. LLC trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 372 shares of the financial services provider’s stock after selling 28 shares during the period. Watts Gwilliam & Co. LLC’s holdings in Equinix were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EQIX. Private Advisor Group LLC raised its position in shares of Equinix by 134.0% in the 2nd quarter. Private Advisor Group LLC now owns 2,179 shares of the financial services provider’s stock valued at $1,649,000 after acquiring an additional 1,248 shares during the period. Wedbush Securities Inc. raised its position in shares of Equinix by 42.0% in the 2nd quarter. Wedbush Securities Inc. now owns 626 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 185 shares during the period. Andra AP fonden acquired a new stake in shares of Equinix in the 2nd quarter valued at approximately $2,497,000. Johnson Investment Counsel Inc. raised its position in shares of Equinix by 38.0% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,920 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 529 shares during the period. Finally, PFG Advisors raised its position in shares of Equinix by 6.9% in the 2nd quarter. PFG Advisors now owns 1,458 shares of the financial services provider’s stock valued at $1,103,000 after acquiring an additional 94 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. The trade was a 20.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,398 shares of company stock worth $7,906,218. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. The Goldman Sachs Group raised their target price on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus raised their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and raised their target price for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, Scotiabank raised their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $976.81.

Equinix Price Performance

Shares of EQIX opened at $899.83 on Friday. The company has a market cap of $86.82 billion, a price-to-earnings ratio of 81.14, a PEG ratio of 2.48 and a beta of 0.72. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company’s fifty day simple moving average is $941.47 and its 200 day simple moving average is $870.45. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. Equinix’s payout ratio is 153.65%.

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.