Legacy Wealth Asset Management LLC Reduces Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Legacy Wealth Asset Management LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,112 shares of the financial services provider’s stock after selling 31 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Equinix were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after acquiring an additional 1,716 shares in the last quarter. Brookfield Corp ON increased its stake in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in Equinix by 3.0% during the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after buying an additional 75,888 shares during the last quarter. Finally, Thematics Asset Management lifted its position in shares of Equinix by 17.7% during the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after buying an additional 6,000 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now owns 6,505 shares in the company, valued at $5,886,959.95. The trade was a 20.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock valued at $7,906,218 over the last quarter. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on EQIX. Wells Fargo & Company increased their target price on shares of Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. TD Cowen raised their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Royal Bank of Canada raised their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $976.81.

Equinix Trading Up 2.2 %

Shares of Equinix stock opened at $919.89 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $88.76 billion, a price-to-earnings ratio of 82.95, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company’s 50-day simple moving average is $941.51 and its 200-day simple moving average is $874.47.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.85%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

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.