Ecofi Investissements SA Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

Ecofi Investissements SA grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 150 shares of the financial services provider’s stock after acquiring an additional 50 shares during the quarter. Ecofi Investissements SA’s holdings in Equinix were worth $131,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Equinix by 49.0% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider’s stock valued at $1,414,000 after buying an additional 524 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Equinix in the 3rd quarter worth approximately $582,000. Cim Investment Management Inc. raised its stake in shares of Equinix by 31.4% during the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock worth $3,261,000 after acquiring an additional 879 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Equinix by 12.9% in the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock valued at $22,880,000 after acquiring an additional 2,940 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 1.5 %

Shares of NASDAQ:EQIX opened at $790.15 on Friday. The company has a market capitalization of $77.29 billion, a PE ratio of 92.42, a PEG ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The business has a 50 day moving average of $847.77 and a two-hundred day moving average of $897.45. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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, analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.37%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Activity

In related news, Chairman Charles J. Meyers sold 3,562 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total value of $3,309,240.48. Following the completion of the sale, the chairman now owns 15,513 shares of the company’s stock, valued at approximately $14,412,197.52. The trade was a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,040 shares of company stock worth $6,547,068 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on EQIX shares. Scotiabank increased their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Citigroup decreased their price objective on shares of Equinix from $1,020.00 to $970.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Truist Financial dropped their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $1,005.50.

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.