Sumitomo Mitsui Trust Group Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 509,071 shares of the financial services provider's stock after purchasing an additional 5,430 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.52% of Equinix worth $415,071,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its stake in shares of Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after purchasing an additional 3,212 shares during the last quarter. First United Bank & Trust acquired a new stake in shares of Equinix in the 1st quarter valued at about $451,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Equinix by 20.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock worth $93,807,000 after acquiring an additional 17,084 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Equinix by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider's stock valued at $1,107,860,000 after buying an additional 40,791 shares during the period. Finally, LGT Group Foundation lifted its holdings in shares of Equinix by 2.2% in the 4th quarter. LGT Group Foundation now owns 24,028 shares of the financial services provider's stock valued at $22,656,000 after buying an additional 511 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on EQIX shares. Truist Financial dropped their target price on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research note on Monday, May 12th. TD Securities upped their target price on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. BMO Capital Markets cut Equinix from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $1,045.00 to $850.00 in a research note on Thursday. BNP Paribas upgraded Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, Barclays raised their target price on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Equinix currently has an average rating of "Buy" and an average target price of $977.30.
Check Out Our Latest Stock Analysis on EQIX
Insiders Place Their Bets
In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares of the company's stock, valued at $15,274,664.29. This represents a 0.57% decrease in their position. 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 stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 9,615 shares of the company's stock, valued at $8,508,409.65. This represents 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. Corporate insiders own 0.27% of the company's stock.
Equinix Price Performance
Shares of NASDAQ:EQIX opened at $785.11 on Friday. The firm has a market cap of $76.80 billion, a PE ratio of 81.61, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. The firm's fifty day moving average is $867.26 and its 200-day moving average is $881.19. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03.
Equinix (NASDAQ:EQIX - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the business earned $8.86 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.
Equinix Announces Dividend
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. This represents a $18.76 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's payout ratio is 195.01%.
Equinix Profile
(
Free Report)
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.
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