Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,129 shares of the financial services provider's stock after purchasing an additional 2,565 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Equinix were worth $31,904,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Equinix in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC boosted its position in shares of Equinix by 127.8% during the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after buying an additional 23 shares during the period. Pacific Center for Financial Services grew its stake in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after buying an additional 15 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Equinix in the 4th quarter valued at $39,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Equinix in the 4th quarter valued at $49,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of EQIX stock traded down $7.65 during midday trading on Friday, reaching $787.50. 539,869 shares of the company traded hands, compared to its average volume of 556,961. The firm's 50 day simple moving average is $866.92 and its two-hundred day simple moving average is $876.38. The firm has a market cap of $77.03 billion, a PE ratio of 81.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results 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. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business earned $8.86 earnings per share. Equinix's quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on EQIX. TD Securities boosted their price target on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Citigroup increased their target price on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Mizuho dropped their price target on shares of Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, BMO Capital Markets cut Equinix from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $1,045.00 to $850.00 in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $960.55.

Insider Buying and Selling at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction that occurred 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 completion of the sale, the insider directly owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares of the company's stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,176 shares of company stock worth $2,808,008. Corporate 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.