CIBC Private Wealth Group LLC Has $136.22 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

CIBC Private Wealth Group LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 143,231 shares of the financial services provider’s stock after selling 1,880 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Equinix were worth $136,219,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares during the period. D.A. Davidson & CO. lifted its position in shares of Equinix by 19.0% during the 3rd quarter. D.A. Davidson & CO. now owns 846 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 135 shares during the period. Townsquare Capital LLC increased its position in shares of Equinix by 47.4% in the third quarter. Townsquare Capital LLC now owns 1,943 shares of the financial services provider’s stock worth $1,725,000 after purchasing an additional 625 shares during the period. CreativeOne Wealth LLC acquired a new position in Equinix in the third quarter valued at about $279,000. Finally, Hantz Financial Services Inc. lifted its position in Equinix by 8.1% during the third quarter. Hantz Financial Services Inc. now owns 3,677 shares of the financial services provider’s stock worth $3,264,000 after purchasing an additional 275 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Oppenheimer boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target for the company in a report on Thursday. Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Barclays boosted their target price on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Equinix Trading Down 2.7 %

Shares of EQIX stock opened at $803.00 on Friday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $78.16 billion, a price-to-earnings ratio of 93.92, a PEG ratio of 1.78 and a beta of 0.74. The stock has a 50-day moving average of $895.96 and a 200-day moving average of $908.73.

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

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.34%. Equinix’s payout ratio is presently 219.42%.

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.