NWK Group Inc. Sells 50 Shares of Equinix, Inc. (NASDAQ:EQIX)

NWK Group Inc. cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400 shares of the financial services provider’s stock after selling 50 shares during the period. NWK Group Inc.’s holdings in Equinix were worth $1,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new position in shares of Equinix in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new position in Equinix in the 4th quarter valued at $39,000. Sierra Ocean LLC bought a new position in Equinix in the 4th quarter valued at $42,000. Thompson Investment Management Inc. purchased a new stake in shares of Equinix during the 4th quarter valued at $47,000. Finally, Key Financial Inc raised its stake in shares of Equinix by 30.4% during the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 14 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Charles J. Meyers sold 3,562 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the completion of the transaction, the chairman now directly owns 15,513 shares in the company, valued at $14,412,197.52. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,040 shares of company stock valued at $6,547,068. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $790.15 on Friday. The company has a 50-day simple moving average of $847.77 and a two-hundred day simple moving average of $897.45. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The firm has a market cap of $77.29 billion, a price-to-earnings ratio of 92.42, a PEG ratio of 1.78 and a beta of 0.95. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.37%. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EQIX shares. Oppenheimer raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Cfra Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Mizuho reduced their price objective on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a report on Friday, March 28th. BMO Capital Markets lowered their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $1,005.50.

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.