Chevy Chase Trust Holdings LLC Has $41.62 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Chevy Chase Trust Holdings LLC increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,045 shares of the financial services provider's stock after buying an additional 413 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Equinix worth $41,620,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Oppenheimer & Co. Inc. boosted its holdings in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after buying an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after acquiring an additional 2,560 shares during the period. National Pension Service boosted its stake in Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock worth $229,263,000 after acquiring an additional 3,164 shares during the last quarter. First United Bank & Trust acquired a new position in Equinix during the first quarter valued at approximately $451,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Equinix by 20.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock valued at $93,807,000 after purchasing an additional 17,084 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQIX. Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. BNP Paribas upgraded Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Cowen reissued a "buy" rating on shares of Equinix in a research note on Thursday, May 1st. Bank of America assumed coverage on Equinix in a research report on Monday, May 19th. They set a "buy" rating and a $1,000.00 price target on the stock. Finally, Wolfe Research cut Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Equinix has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Equinix Price Performance

EQIX stock traded down $82.19 during trading on Wednesday, reaching $824.31. 1,349,757 shares of the company were exchanged, compared to its average volume of 532,553. The company has a 50-day moving average of $867.34 and a two-hundred day moving average of $884.37. The company has a market capitalization of $80.63 billion, a price-to-earnings ratio of 85.69, a P/E/G ratio of 1.16 and a beta of 0.97. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company's revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.86 earnings per share. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.28%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insider Activity at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares of the company's stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 in the last quarter. 0.27% of the stock is owned by insiders.

Equinix 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.