Amundi Acquires 38,769 Shares of Equinix, Inc. $EQIX

Amundi grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 881,759 shares of the financial services provider's stock after acquiring an additional 38,769 shares during the period. Amundi owned about 0.89% of Equinix worth $864,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Equinix by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider's stock worth $10,265,706,000 after purchasing an additional 107,227 shares in the last quarter. Cohen & Steers Inc. grew its holdings in Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider's stock worth $1,998,978,000 after acquiring an additional 493,141 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Equinix by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider's stock worth $1,959,731,000 after purchasing an additional 25,383 shares during the period. Principal Financial Group Inc. increased its holdings in Equinix by 1.4% during the first quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock valued at $1,941,377,000 after buying an additional 27,643 shares during the period. Finally, Northern Trust Corp increased its holdings in Equinix by 0.6% during the fourth quarter. Northern Trust Corp now owns 1,500,506 shares of the financial services provider's stock valued at $1,149,628,000 after buying an additional 9,614 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity

In related news, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total value of $132,536.25. Following the completion of the transaction, the director owned 17,557 shares of the company's stock, valued at approximately $18,615,511.53. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Raouf Abdel sold 2,040 shares of Equinix stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $1,083.47, for a total transaction of $2,210,278.80. Following the completion of the sale, the executive vice president directly owned 5,728 shares in the company, valued at $6,206,116.16. This represents a 26.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,115 shares of company stock worth $12,022,574 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Down 1.1%

Shares of EQIX opened at $1,034.86 on Wednesday. The company has a market capitalization of $102.06 billion, a price-to-earnings ratio of 71.62, a PEG ratio of 1.94 and a beta of 0.98. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The stock's 50-day moving average price is $1,056.26 and its 200-day moving average price is $991.49. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 earnings per share for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a return on equity of 10.03% and a net margin of 15.07%.The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period last year, the business earned $9.67 earnings per share. Equinix's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Equinix, Inc. will post 38.25 EPS for the current year.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $1,207.00 price objective on shares of Equinix in a research note on Tuesday, May 5th. Barclays increased their price objective on Equinix from $1,109.00 to $1,130.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Mizuho boosted their target price on Equinix from $1,165.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Wells Fargo & Company upped their price objective on shares of Equinix from $975.00 to $1,200.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Finally, Citigroup boosted their target price on shares of Equinix from $1,240.00 to $1,260.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Equinix currently has an average rating of "Moderate Buy" and a consensus price target of $1,153.79.

Equinix Company 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.

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