Perigon Wealth Management LLC Grows Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Perigon Wealth Management LLC boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 892 shares of the financial services provider’s stock after acquiring an additional 60 shares during the period. Perigon Wealth Management LLC’s holdings in Equinix were worth $719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Equitable Holdings Inc. boosted its holdings in shares of Equinix by 0.5% during the 1st quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock worth $2,224,000 after buying an additional 14 shares during the period. DRW Securities LLC increased its stake in shares of Equinix by 2.7% in the second quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 14 shares during the period. Balentine LLC increased its stake in shares of Equinix by 0.8% in the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock worth $1,240,000 after purchasing an additional 14 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Equinix by 0.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,783 shares of the financial services provider’s stock worth $2,021,000 after purchasing an additional 15 shares during the last quarter. Finally, Legacy Advisors LLC boosted its stake in Equinix by 1.6% during the 3rd quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, insider Michael Earl Campbell sold 2,199 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the sale, the insider now owns 14,067 shares of the company’s stock, valued at approximately $11,252,474.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brandi Galvin Morandi sold 729 shares of the firm’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 sale, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $799.92, for a total transaction of $1,759,024.08. Following the completion of the sale, the insider now directly owns 14,067 shares in the company, valued at $11,252,474.64. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock valued at $14,788,771 in the last quarter. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EQIX shares. Oppenheimer upped their price objective on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Royal Bank of Canada upped their price target on Equinix from $855.00 to $950.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Truist Financial lifted their price objective on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $868.72.

Equinix Stock Performance

Shares of EQIX stock opened at $764.05 on Monday. The stock has a 50-day moving average of $844.04 and a 200-day moving average of $801.95. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The stock has a market cap of $72.30 billion, a PE ratio of 74.11, a price-to-earnings-growth ratio of 1.82 and a beta of 0.58. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.23%. Equinix’s dividend payout ratio is 165.28%.

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.