Harbour Investments Inc. Sells 42 Shares of Equinix, Inc. (NASDAQ:EQIX)

Harbour Investments Inc. decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 24.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130 shares of the financial services provider’s stock after selling 42 shares during the quarter. Harbour Investments Inc.’s holdings in Equinix were worth $123,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Equinix in the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in Equinix during the fourth quarter worth approximately $39,000. Sierra Ocean LLC bought a new stake in Equinix during the fourth quarter worth approximately $42,000. Dunhill Financial LLC boosted its position in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 25 shares during the period. Finally, Thompson Investment Management Inc. bought a new stake in Equinix during the fourth quarter worth approximately $47,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $834.59 on Friday. The business has a fifty day simple moving average of $903.56 and a 200 day simple moving average of $908.81. 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 firm has a market capitalization of $81.23 billion, a price-to-earnings ratio of 97.61, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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%. Sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is currently 219.42%.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent analyst reports. Scotiabank upped their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Barclays upped their target price on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $990.06.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the sale, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurt Pletcher sold 341 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 over the last three months. 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.