Kingswood Wealth Advisors LLC Sells 303 Shares of Equinix, Inc. (NASDAQ:EQIX)

Kingswood Wealth Advisors LLC decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 32.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 641 shares of the financial services provider’s stock after selling 303 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Equinix were worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EQIX. Goelzer Investment Management Inc. raised its stake in Equinix by 0.3% during the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock valued at $3,364,000 after purchasing an additional 13 shares in the last quarter. Sage Mountain Advisors LLC grew its position 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 acquiring an additional 14 shares in the last quarter. Legacy Advisors LLC increased its stake in Equinix by 1.6% during the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 15 shares during the last quarter. Ieq Capital LLC raised its position in Equinix by 0.5% during the fourth quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider’s stock valued at $2,354,000 after purchasing an additional 15 shares during the period. Finally, First Affirmative Financial Network lifted its stake in shares of Equinix by 2.9% in the 4th quarter. First Affirmative Financial Network now owns 577 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 16 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Brandi Galvin Morandi sold 2,070 shares of the 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 completion of the sale, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.1 %

NASDAQ:EQIX opened at $741.87 on Thursday. The firm has a 50-day simple moving average of $755.29 and a 200-day simple moving average of $801.24. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The firm has a market cap of $70.41 billion, a P/E ratio of 74.41, a P/E/G ratio of 2.59 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.30%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Analysts Set New Price Targets

Several analysts recently weighed in on EQIX shares. TD Cowen decreased their price target on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a report on Friday, May 10th. 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. Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada cut their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $872.50.

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.