Spire Wealth Management Buys 1,090 Shares of Equinix, Inc. (NASDAQ:EQIX)

Spire Wealth Management lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,089 shares of the financial services provider’s stock after acquiring an additional 1,090 shares during the quarter. Spire Wealth Management’s holdings in Equinix were worth $6,493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Equinix by 0.3% in the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after purchasing an additional 34,926 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equinix by 44.6% in the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after purchasing an additional 431,435 shares during the last quarter. Northern Trust Corp increased its holdings in Equinix by 1.7% during the third quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock worth $862,790,000 after buying an additional 20,241 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Equinix by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,403 shares of the financial services provider’s stock worth $707,670,000 after buying an additional 35,333 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Equinix by 4.8% during the third quarter. Morgan Stanley now owns 940,617 shares of the financial services provider’s stock worth $683,134,000 after buying an additional 43,143 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock traded down $6.45 during midday trading on Monday, hitting $693.73. The company’s stock had a trading volume of 799,013 shares, compared to its average volume of 596,539. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $65.64 billion, a price-to-earnings ratio of 67.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62. The company has a 50 day moving average of $807.36 and a two-hundred day moving average of $802.13.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.46%. Equinix’s payout ratio is 165.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EQIX shares. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research report on Wednesday, March 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Barclays cut their price target on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company lifted their price target on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada lifted their price target on shares of Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $870.44.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares of the company’s stock, valued at $8,422,659.35. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock worth $3,818,268 in the last three months. 0.27% of the stock is owned by company insiders.

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.