GDS Wealth Management Has $482,000 Holdings in Equinix, Inc. (NASDAQ:EQIX)

GDS Wealth Management cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 599 shares of the financial services provider’s stock after selling 85 shares during the period. GDS Wealth Management’s holdings in Equinix were worth $482,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in shares of Equinix by 9.1% in the third quarter. Commonwealth Equity Services LLC now owns 4,999 shares of the financial services provider’s stock valued at $3,631,000 after buying an additional 415 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Equinix by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,129 shares of the financial services provider’s stock worth $2,999,000 after buying an additional 201 shares during the period. Mackenzie Financial Corp grew its position in shares of Equinix by 27.9% during the 3rd quarter. Mackenzie Financial Corp now owns 34,866 shares of the financial services provider’s stock worth $24,447,000 after buying an additional 7,598 shares during the period. Brighton Jones LLC grew its position in shares of Equinix by 7.3% during the 3rd quarter. Brighton Jones LLC now owns 307 shares of the financial services provider’s stock worth $223,000 after buying an additional 21 shares during the period. Finally, IFM Investors Pty Ltd grew its position in shares of Equinix by 2.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 19,705 shares of the financial services provider’s stock worth $14,311,000 after buying an additional 564 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

EQIX stock traded up $79.72 during midday trading on Thursday, reaching $772.43. The company had a trading volume of 2,353,524 shares, compared to its average volume of 619,529. The company has a market capitalization of $73.09 billion, a price-to-earnings ratio of 74.92, a price-to-earnings-growth ratio of 1.81 and a beta of 0.62. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a 1-year low of $672.88 and a 1-year high of $914.93. The stock has a 50 day moving average price of $796.48 and a 200-day moving average price of $801.33.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.21%. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction that occurred 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 owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Charles J. Meyers sold 2,110 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at approximately $8,422,659.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,585 shares of company stock valued at $3,818,268. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EQIX. Stifel Nicolaus restated a “buy” rating and set a $960.00 target price on shares of Equinix in a research report on Wednesday, March 13th. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a report on Wednesday, March 20th. Oppenheimer lifted their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Truist Financial lifted their price objective on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $870.44.

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.