DekaBank Deutsche Girozentrale Has $78.55 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

DekaBank Deutsche Girozentrale raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,002 shares of the financial services provider's stock after buying an additional 10,006 shares during the period. DekaBank Deutsche Girozentrale owned 0.10% of Equinix worth $78,553,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in Equinix in the 4th quarter worth $1,067,270,000. GAMMA Investing LLC grew its position in shares of Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after purchasing an additional 889,282 shares during the last quarter. Northern Trust Corp increased its stake in shares of Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the period. Wellington Management Group LLP lifted its position in shares of Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after purchasing an additional 401,991 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Equinix during the 4th quarter worth about $246,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EQIX has been the topic of several recent analyst reports. Citigroup lifted their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Guggenheim began coverage on shares of Equinix in a research report on Thursday. They set a "buy" rating and a $933.00 target price on the stock. TD Securities upped their target price on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Cfra Research lowered shares of Equinix from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, June 26th. Finally, Truist Financial decreased their target price on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a research report on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Equinix currently has an average rating of "Buy" and a consensus price target of $957.05.

Insider Activity

In related news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,176 shares of company stock valued at $2,808,008. Company insiders own 0.27% of the company's stock.

Equinix Price Performance

EQIX stock traded down $2.19 during midday trading on Friday, reaching $756.70. 587,378 shares of the company's stock traded hands, compared to its average volume of 562,366. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a market cap of $74.02 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.10 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a 50-day simple moving average of $858.89 and a two-hundred day simple moving average of $870.72.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter last year, the company posted $8.86 EPS. The company's quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given 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 2.48%. Equinix's payout ratio is 195.01%.

Equinix Company 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.