Royal Bank of Canada Has $191.85 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Royal Bank of Canada trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 203,469 shares of the financial services provider’s stock after selling 1,526 shares during the period. Royal Bank of Canada’s holdings in Equinix were worth $191,850,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Raiffeisen Bank International AG bought a new stake in Equinix during the fourth quarter valued at about $61,499,000. Point72 Europe London LLP boosted its holdings in Equinix by 58.0% during the fourth quarter. Point72 Europe London LLP now owns 10,900 shares of the financial services provider’s stock valued at $10,278,000 after acquiring an additional 4,000 shares during the period. ProShare Advisors LLC boosted its holdings in Equinix by 7.5% during the fourth quarter. ProShare Advisors LLC now owns 18,859 shares of the financial services provider’s stock valued at $17,782,000 after acquiring an additional 1,316 shares during the period. Quantinno Capital Management LP boosted its holdings in Equinix by 21.0% during the fourth quarter. Quantinno Capital Management LP now owns 11,312 shares of the financial services provider’s stock valued at $10,667,000 after acquiring an additional 1,960 shares during the period. Finally, Pathstone Holdings LLC boosted its holdings in Equinix by 3.9% during the fourth quarter. Pathstone Holdings LLC now owns 13,489 shares of the financial services provider’s stock valued at $12,718,000 after acquiring an additional 512 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 1.0%

Shares of EQIX opened at $875.92 on Friday. The stock has a market cap of $85.68 billion, a price-to-earnings ratio of 102.45, a P/E/G ratio of 1.78 and a beta of 0.97. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a 50-day moving average price of $825.46 and a two-hundred day moving average price of $892.74.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.86 earnings per share. Equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s payout ratio is 195.01%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EQIX. Barclays upped their price target on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, May 1st. Stifel Nicolaus increased their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Cowen reiterated a “buy” rating on shares of Equinix in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $1,004.89.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Charles J. Meyers sold 3,562 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the sale, the chairman now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,167 shares of company stock valued at $6,658,536. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.