Equinix, Inc. (NASDAQ:EQIX) Shares Bought by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI raised its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 121.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,537 shares of the financial services provider's stock after buying an additional 23,325 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Equinix were worth $40,108,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after buying an additional 88,654 shares during the last quarter. Geode Capital Management LLC lifted its position in Equinix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after buying an additional 62,005 shares during the last quarter. FMR LLC lifted its position in Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after buying an additional 81,144 shares during the last quarter. Principal Financial Group Inc. lifted its position in Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after buying an additional 44,471 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Equinix by 0.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock valued at $1,793,429,000 after buying an additional 14,294 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 2,454 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the sale, the chief financial officer now directly owns 24,402 shares in the company, valued at approximately $22,677,754.68. The trade was a 9.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 3,562 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.04, for a total value of $3,309,240.48. Following the completion of the sale, the chairman now owns 15,513 shares of the company's stock, valued at $14,412,197.52. This trade represents a 18.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,927 shares of company stock worth $6,431,559 in the last three months. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

Equinix stock opened at $877.57 on Tuesday. The stock's 50 day moving average price is $825.91 and its 200 day moving average price is $892.56. The firm has a market capitalization of $85.84 billion, a PE ratio of 102.64, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equinix's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $8.86 EPS. As a group, sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EQIX. Truist Financial cut their price target on shares of Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. BMO Capital Markets cut their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Mizuho cut their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research note on Friday, March 28th. Oppenheimer boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and six have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $1,004.65.

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.

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