Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 39.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,518 shares of the financial services provider’s stock after purchasing an additional 1,277 shares during the period. Investment Management Corp of Ontario’s holdings in Equinix were worth $4,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new position in Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new stake in Equinix in the fourth quarter valued at about $42,000. Thompson Investment Management Inc. acquired a new position in Equinix during the 4th quarter worth approximately $47,000. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Equinix during the 4th quarter worth approximately $52,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,167 shares of company stock valued at $6,658,536 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on EQIX shares. Citigroup lifted their price target on Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Wells Fargo & Company lowered their price target on shares of 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. Truist Financial reduced their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. TD Securities upped their target price on shares of Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $1,005.11.

Equinix Stock Performance

Equinix stock opened at $864.39 on Friday. The stock has a fifty day moving average price of $825.01 and a 200 day moving average price of $894.11. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The firm has a market capitalization of $84.55 billion, a P/E ratio of 101.10, a PEG ratio of 1.78 and a beta of 0.97. 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 posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company posted $8.86 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.17%. Equinix’s dividend payout ratio is presently 195.01%.

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.