Equinix, Inc. (NASDAQ:EQIX) Shares Purchased by Keybank National Association OH

Keybank National Association OH lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 594.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,708 shares of the financial services provider's stock after acquiring an additional 20,294 shares during the quarter. Keybank National Association OH's holdings in Equinix were worth $19,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. First United Bank & Trust acquired a new position in shares of Equinix during the first quarter worth about $451,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 acquiring an additional 17,084 shares in the last quarter. Chevy Chase Trust Holdings LLC grew its position in Equinix by 0.8% in the first quarter. Chevy Chase Trust Holdings LLC now owns 51,045 shares of the financial services provider's stock valued at $41,620,000 after acquiring an additional 413 shares in the last quarter. CWA Asset Management Group LLC raised its stake in shares of Equinix by 72.0% during the first quarter. CWA Asset Management Group LLC now owns 399 shares of the financial services provider's stock valued at $325,000 after purchasing an additional 167 shares during the period. Finally, Phocas Financial Corp. acquired a new position in shares of Equinix during the fourth quarter worth $565,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, June 26th. BMO Capital Markets cut Equinix from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $1,045.00 to $850.00 in a research note on Thursday, June 26th. BNP Paribas raised Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Truist Financial dropped their price objective on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Mizuho cut their target price on Equinix from $1,069.00 to $900.00 and set an "outperform" rating on the stock in a research report on Tuesday. Four research 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 stock. According to data from MarketBeat.com, Equinix currently has an average rating of "Buy" and an average price target of $960.55.

Equinix Stock Performance

Shares of Equinix stock traded down $7.65 on Thursday, reaching $787.50. 539,869 shares of the company were exchanged, compared to its average volume of 555,683. The firm has a market cap of $77.03 billion, a price-to-earnings ratio of 81.86, a P/E/G ratio of 1.14 and a beta of 0.93. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The company's 50-day moving average is $867.51 and its two-hundred day moving average is $877.55.

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

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's payout ratio is 195.01%.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,176 shares of company stock worth $2,808,008. Insiders own 0.27% of the company's stock.

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.