GDS Wealth Management Sells 85 Shares of Equinix, Inc. (NASDAQ:EQIX)

GDS Wealth Management trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 12.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 599 shares of the financial services provider’s stock after selling 85 shares during the quarter. GDS Wealth Management’s holdings in Equinix were worth $482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EQIX. Valley National Advisers Inc. raised its holdings in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares in the last quarter. Providence Capital Advisors LLC purchased a new position in Equinix in the third quarter worth $29,000. Criterion Capital Advisors LLC acquired a new position in shares of Equinix during the fourth quarter worth $32,000. Operose Advisors LLC purchased a new stake in shares of Equinix during the 3rd quarter valued at $36,000. Finally, Asset Dedication LLC boosted its position in shares of Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EQIX shares. Barclays dropped their price target on Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Truist Financial upped their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Finally, Oppenheimer upped their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Seven 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $870.44.

Equinix Price Performance

Shares of EQIX stock traded up $79.72 during mid-day trading on Thursday, hitting $772.43. 2,353,524 shares of the stock were exchanged, compared to its average volume of 619,529. The firm has a fifty day moving average of $796.48 and a 200 day moving average of $801.33. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52-week low of $672.88 and a 52-week high of $914.93. The company has a market cap of $73.09 billion, a PE ratio of 74.92, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.21%. Equinix’s payout ratio is currently 165.28%.

Insider Transactions at Equinix

In related news, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, the executive vice president now directly owns 1,242 shares in the company, valued at approximately $1,034,548.74. 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 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Equinix Company 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.