Principal Securities Inc. Sells 35 Shares of Equinix, Inc. (NASDAQ:EQIX)

Principal Securities Inc. lessened its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354 shares of the financial services provider’s stock after selling 35 shares during the period. Principal Securities Inc.’s holdings in Equinix were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. GHP Investment Advisors Inc. lifted its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Dunhill Financial LLC lifted its position in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in Equinix in the 4th quarter valued at $47,000. Finally, Friedenthal Financial acquired a new position in Equinix in the 4th quarter worth $58,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock worth $21,988,532 over the last three months. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

EQIX has been the topic of a number of research reports. Scotiabank cut their price target on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. BMO Capital Markets lowered their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $994.82.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $919.68 on Friday. 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 company has a market capitalization of $89.51 billion, a P/E ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The stock has a 50 day moving average of $931.27 and a 200-day moving average of $901.85.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio is currently 219.42%.

Equinix 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.