B. Riley Wealth Advisors Inc. Cuts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

B. Riley Wealth Advisors Inc. lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,446 shares of the financial services provider’s stock after selling 68 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Equinix were worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of EQIX. Valley National Advisers Inc. raised its holdings in shares of Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares during the last quarter. Providence Capital Advisors LLC acquired a new stake in shares of Equinix in the third quarter valued at $29,000. Criterion Capital Advisors LLC purchased a new stake in Equinix during the fourth quarter worth about $32,000. Operose Advisors LLC purchased a new position in Equinix in the 3rd quarter valued at approximately $36,000. Finally, Asset Dedication LLC grew its stake in Equinix by 92.6% during 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 owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on EQIX. Truist Financial boosted their target price on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 price target on shares of Equinix in a research report on Wednesday, March 13th. TD Cowen reduced their target price on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Oppenheimer lifted their price target on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada dropped their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $872.81.

Equinix Trading Down 0.5 %

Shares of EQIX stock opened at $762.38 on Tuesday. The company has a market cap of $72.36 billion, a PE ratio of 76.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.68. Equinix, Inc. has a 12 month low of $677.80 and a 12 month high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average is $755.89 and its two-hundred day moving average is $803.47.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s dividend payout ratio is 170.91%.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the transaction, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. 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.