Equinix, Inc. $EQIX Shares Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP raised its position in Equinix, Inc. (NASDAQ:EQIX) by 10,138.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,672 shares of the financial services provider’s stock after buying an additional 11,558 shares during the period. Equinix comprises about 0.5% of Fulcrum Asset Management LLP’s portfolio, making the stock its 24th largest holding. Fulcrum Asset Management LLP’s holdings in Equinix were worth $11,850,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EQIX. BlackRock Inc. purchased a new position in shares of Equinix in the second quarter valued at approximately $11,930,074,000. Principal Financial Group Inc. boosted its stake in shares of Equinix by 1.4% in the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock worth $1,941,377,000 after acquiring an additional 27,643 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Equinix by 26,831.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock worth $1,291,648,000 after acquiring an additional 1,234,521 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Equinix during the second quarter worth approximately $1,181,260,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Equinix during the second quarter worth approximately $1,163,662,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $1,250.00 price objective on shares of Equinix in a research note on Monday, November 2nd. Scotiabank reaffirmed a “sector perform” rating and set a $1,208.00 target price on shares of Equinix in a research note on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Equinix from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. The Goldman Sachs Group increased their target price on shares of Equinix from $1,015.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $1,235.00 target price on shares of Equinix in a research report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,234.13.

Equinix Price Performance

Shares of EQIX stock opened at $1,012.71 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50-day moving average is $1,016.72 and its two-hundred day moving average is $1,013.32. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The company has a market capitalization of $99.92 billion, a PE ratio of 60.82, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, beating the consensus estimate of $4.11 by $0.82. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company posted $9.83 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts predict that Equinix, Inc. will post 39.01 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be given a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix’s payout ratio is presently 123.96%.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the sale, the director owned 13,734 shares of the company’s stock, valued at $15,156,567.72. This trade represents a 0.90% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total value of $317,748.07. Following the sale, the insider directly owned 2,450 shares of the company’s stock, valued at approximately $2,535,774.50. This trade represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 770 shares of company stock worth $807,077. Insiders own 0.27% of the company’s stock.

Equinix Company Profile