Lyell Wealth Management LP Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Lyell Wealth Management LP raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 23.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,244 shares of the financial services provider’s stock after purchasing an additional 798 shares during the quarter. Lyell Wealth Management LP’s holdings in Equinix were worth $3,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Sycomore Asset Management boosted its stake in shares of Equinix by 20.4% during the 4th quarter. Sycomore Asset Management now owns 9,916 shares of the financial services provider’s stock worth $8,001,000 after acquiring an additional 1,679 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Equinix by 3.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,206 shares of the financial services provider’s stock worth $1,777,000 after acquiring an additional 72 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Equinix by 3.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,153 shares of the financial services provider’s stock worth $929,000 after acquiring an additional 43 shares in the last quarter. South Dakota Investment Council boosted its stake in shares of Equinix by 10.0% during the 4th quarter. South Dakota Investment Council now owns 11,296 shares of the financial services provider’s stock worth $9,098,000 after acquiring an additional 1,030 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Equinix during the 4th quarter worth approximately $443,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 0.7 %

Shares of NASDAQ EQIX traded down $5.06 during trading on Wednesday, hitting $756.84. 775,655 shares of the company traded hands, compared to its average volume of 565,545. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93. The company has a 50-day moving average price of $828.73 and a 200-day moving average price of $803.06. The firm has a market capitalization of $71.61 billion, a P/E ratio of 73.41, a P/E/G ratio of 1.95 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a dividend yield of 2.25%. Equinix’s dividend payout ratio is presently 165.28%.

Insider Activity

In other news, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock valued at $3,818,268 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

EQIX has been the subject of several research reports. Wells Fargo & Company lifted their price objective on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Truist Financial lifted their price objective on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada lifted their price objective on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Wolfe Research upgraded Equinix from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 2nd. Finally, Barclays cut their price objective on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

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.