Handelsbanken Fonder AB Has $35.51 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Handelsbanken Fonder AB lowered its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,551 shares of the financial services provider's stock after selling 1,819 shares during the quarter. Handelsbanken Fonder AB's holdings in Equinix were worth $35,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Equinix in the fourth quarter valued at about $1,067,270,000. GAMMA Investing LLC increased its holdings in Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after purchasing an additional 889,282 shares during the last quarter. Northern Trust Corp increased its holdings in Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after purchasing an additional 586,034 shares during the last quarter. Wellington Management Group LLP increased its holdings in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after purchasing an additional 401,991 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Equinix in the fourth quarter valued at about $328,899,000. Institutional investors own 94.94% of the company's stock.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $86,941.00. Following the transaction, the director now directly owns 17,569 shares of the company's stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,176 shares of company stock valued at $2,808,008. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

EQIX has been the subject of a number of recent analyst reports. Barclays upped their price objective on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a report on Tuesday, May 27th. Scotiabank dropped their price objective on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 22nd. Citigroup increased their price target on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a report on Monday, May 5th. BNP Paribas upgraded Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Mizuho lowered their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $1,004.80.

Equinix Stock Down 0.4%

Shares of EQIX stock traded down $3.78 on Friday, hitting $892.64. 502,420 shares of the stock were exchanged, compared to its average volume of 527,259. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $87.32 billion, a P/E ratio of 104.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The business has a 50-day moving average of $851.86 and a 200 day moving average of $889.06. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS 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 during the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the prior year, the firm posted $8.86 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current 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. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.10%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

About Equinix

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.