Equinix, Inc. $EQIX Stock Acquired by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Equinix stake by 31.5% in the third quarter, adding 75,135 shares to reach 313,578 shares, valued at about $317.2 million. Institutional investors and hedge funds own 94.94% of the stock.
• Equinix reported quarterly earnings of $4.93 per share, beating estimates of $4.11, while revenue rose 11% year over year to $2.57 billion.
• Analysts give Equinix a consensus “Moderate Buy” rating and an average price target of $1,234.13. The company also declared a quarterly dividend of $5.16 per share, equivalent to a 2.0% annualized yield.

Pictet Asset Management Holding SA lifted its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 31.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 313,578 shares of the financial services provider's stock after buying an additional 75,135 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.32% of Equinix worth $317,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Equinix during the second quarter valued at approximately $11,930,074,000. Principal Financial Group Inc. boosted its position in Equinix by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider's stock worth $1,941,377,000 after purchasing an additional 27,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Equinix by 26,831.6% in the 2nd 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 purchasing an additional 1,234,521 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Equinix during the 2nd quarter worth approximately $1,181,260,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Equinix during the 2nd quarter worth approximately $1,163,662,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 135 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the transaction, the insider directly owned 4,077 shares of the company's stock, valued at $4,384,813.50. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher Paisley sold 125 shares of Equinix stock in a transaction dated Tuesday, August 18th. The shares were 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 in the company, valued at approximately $15,156,567.72. This trade represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 770 shares of company stock worth $807,077. Company insiders own 0.27% of the company's stock.

Equinix Stock Up 1.5%

Shares of EQIX opened at $1,012.71 on Friday. The firm has a market cap of $99.92 billion, a P/E ratio of 60.82, a PEG ratio of 1.42 and a beta of 0.98. Equinix, Inc. has a 12 month low of $720.62 and a 12 month high of $1,128.68. The stock's 50 day moving average is $1,016.72 and its two-hundred day moving average is $1,013.32. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.11 by $0.82. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the company posted $9.83 EPS. The business's quarterly revenue 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 fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be given a dividend of $5.16 per share. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. Equinix's dividend payout ratio is currently 123.96%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of Equinix from $1,222.00 to $1,270.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Royal Bank Of Canada increased their price target on shares of Equinix from $1,125.00 to $1,225.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Barclays raised their price target on shares of Equinix from $1,130.00 to $1,135.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 8th. Canadian Imperial Bank of Commerce started coverage on shares of Equinix in a report on Tuesday, October 20th. They issued an "outperform" rating and a $1,200.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Equinix in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,234.13.

Equinix Company Profile

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