Toronto Dominion Bank Raises Stake in Equinix, Inc. (NASDAQ:EQIX)

Toronto Dominion Bank boosted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,495 shares of the financial services provider's stock after purchasing an additional 3,975 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Equinix worth $48,554,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its holdings in Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after acquiring an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Equinix by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock worth $592,191,000 after acquiring an additional 2,560 shares during the last quarter. National Pension Service boosted its holdings in Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock worth $229,263,000 after acquiring an additional 3,164 shares during the last quarter. Empowered Funds LLC boosted its holdings in Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock worth $2,361,000 after acquiring an additional 404 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EQIX shares. 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 report on Thursday, May 1st. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target on the stock in a report on Thursday, March 27th. New Street Research raised shares of Equinix to a "strong-buy" rating in a report on Monday, April 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 report on Thursday, February 13th. Finally, Citigroup boosted their price target on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and six have given a strong buy rating to the company. According to MarketBeat, Equinix currently has an average rating of "Buy" and a consensus target price of $1,004.80.

Equinix Price Performance

Shares of EQIX traded up $1.65 during midday trading on Friday, hitting $889.08. 973,117 shares of the company traded hands, compared to its average volume of 525,128. The stock has a 50-day moving average of $831.05 and a 200-day moving average of $890.66. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The firm has a market cap of $86.97 billion, a P/E ratio of 103.99, a PEG ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 6.31% and a net margin of 9.32%. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the prior year, the business posted $8.86 earnings per share. The company's revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict 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. Stockholders 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 dividend yield of 2.11%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio is presently 195.01%.

Insider Activity

In related news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now directly owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Company 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.