Lansforsakringar Fondforvaltning AB publ Purchases Shares of 32,125 Equinix, Inc. (NASDAQ:EQIX)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 32,125 shares of the financial services provider's stock, valued at approximately $30,290,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new position in shares of Equinix in the 4th quarter valued at $28,000. Kestra Investment Management LLC bought a new position in shares of Equinix in the 4th quarter valued at $31,000. Pacific Center for Financial Services increased its stake in shares of Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 15 shares during the last quarter. J.Safra Asset Management Corp bought a new position in shares of Equinix in the 4th quarter valued at $39,000. Finally, Sierra Ocean LLC bought a new position in shares of Equinix in the 4th quarter valued at $42,000. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

EQIX has been the topic of several recent analyst reports. TD Securities lifted their price target on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Mizuho cut their price objective on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a report on Friday, March 28th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a report on Friday, May 23rd. Bank of America assumed coverage on Equinix in a report on Monday, May 19th. They set a "buy" rating and a $1,000.00 price objective on the stock. Finally, Scotiabank cut their price objective on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat.com, Equinix presently has an average rating of "Buy" and an average price target of $1,004.80.

Equinix Stock Performance

Shares of NASDAQ EQIX traded up $1.65 during midday trading on Friday, reaching $889.08. The company's stock had a trading volume of 973,117 shares, compared to its average volume of 527,294. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The firm has a 50 day moving average price of $831.05 and a 200-day moving average price of $890.74. The stock has a market capitalization 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 posted its quarterly earnings data 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. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equinix's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.86 earnings per share. As a group, equities analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.11%. Equinix's dividend payout ratio is currently 195.01%.

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction 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 transaction, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the 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 now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Company 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.