Equinix, Inc. $EQIX Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,003 shares of the financial services provider’s stock after selling 14,100 shares during the period. Swiss National Bank owned 0.29% of Equinix worth $220,876,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC grew its stake in Equinix by 21.1% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after buying an additional 67 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after buying an additional 7,409 shares during the period. JPMorgan Chase & Co. lifted its stake in Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after buying an additional 588,967 shares during the last quarter. Chilton Capital Management LLC boosted its holdings in shares of Equinix by 5.1% during the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock valued at $28,908,000 after acquiring an additional 1,805 shares during the period. Finally, Foresight Group Ltd Liability Partnership boosted its holdings in shares of Equinix by 10.0% during the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock valued at $20,425,000 after acquiring an additional 2,378 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 927 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the transaction, the executive vice president owned 7,337 shares in the company, valued at $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 2,051 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.17, for a total value of $1,649,352.67. Following the sale, the chief financial officer directly owned 26,373 shares in the company, valued at approximately $21,208,375.41. The trade was a 7.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 13,602 shares of company stock valued at $11,369,645. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $944.91 on Tuesday. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The firm’s 50-day simple moving average is $855.68 and its 200 day simple moving average is $808.90. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock has a market cap of $92.84 billion, a P/E ratio of 68.72, a P/E/G ratio of 2.41 and a beta of 1.04.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $7.92 EPS. Equities analysts expect 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 18th. Stockholders of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio (DPR) is currently 150.11%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup reaffirmed a “buy” rating on shares of Equinix in a report on Thursday, February 12th. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Morgan Stanley restated an “overweight” rating and issued a $1,075.00 target price on shares of Equinix in a research report on Friday, February 13th. Truist Financial raised their price target on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group lifted their price target on Equinix from $785.00 to $894.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.91.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.