KLP Kapitalforvaltning AS Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

KLP Kapitalforvaltning AS grew its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,868 shares of the financial services provider's stock after purchasing an additional 2,600 shares during the period. KLP Kapitalforvaltning AS's holdings in Equinix were worth $29,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EQIX. Brighton Jones LLC raised its position in shares of Equinix by 28.9% in the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 73 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Equinix in the fourth quarter valued at $2,027,000. Proficio Capital Partners LLC acquired a new stake in shares of Equinix in the fourth quarter valued at $246,000. Summit Global Investments lifted its holdings in shares of Equinix by 69.7% during the fourth quarter. Summit Global Investments now owns 538 shares of the financial services provider's stock valued at $507,000 after purchasing an additional 221 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Equinix by 5.7% during the fourth quarter. LPL Financial LLC now owns 33,554 shares of the financial services provider's stock valued at $31,638,000 after purchasing an additional 1,823 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Up 1.7%

EQIX traded up $13.71 during trading on Friday, hitting $803.25. 324,956 shares of the company's stock traded hands, compared to its average volume of 644,047. The stock has a market capitalization of $78.57 billion, a price-to-earnings ratio of 83.46, a PEG ratio of 1.47 and a beta of 0.93. The company's 50 day simple moving average is $840.37 and its two-hundred day simple moving average is $859.10. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20.

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. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.86 EPS. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.34%. Equinix's dividend payout ratio (DPR) is 195.01%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wolfe Research lowered Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Wells Fargo & Company reduced their price objective on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Truist Financial dropped their price target on Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a report on Tuesday, July 1st. JMP Securities reissued a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Tuesday. Finally, New Street Research upgraded Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $957.05.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction dated 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 owned 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director directly owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 in the last three months. Corporate insiders own 0.27% of the company's stock.

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.