Lbp Am Sa Has $52.92 Million Holdings in Equinix, Inc. $EQIX

Key Points

• Lbp Am Sa boosted its position in Equinix by 3.5% in Q4 to 69,066 shares, worth about $52.92 million, representing roughly 0.07% of Equinix and making it the fund's 26th-largest holding.
• Company insiders sold 17,266 shares worth about $14.9 million last quarter (including Jonathan Lin and Chairman Charles J. Meyers), while institutional investors own approximately 94.94% of the stock.
• Equinix slightly missed Q4 revenue and EPS estimates, trades at a high valuation (market cap ~$103.85B, P/E ~76.6), recently raised its quarterly dividend to $5.16 (annualized $20.64, ~2.0% yield, 150% payout ratio), and carries a consensus analyst rating of "Moderate Buy" with an average target near $1,033.57.

Lbp Am Sa boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,066 shares of the financial services provider's stock after purchasing an additional 2,343 shares during the quarter. Equinix accounts for approximately 0.6% of Lbp Am Sa's holdings, making the stock its 26th biggest position. Lbp Am Sa owned 0.07% of Equinix worth $52,916,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Equinix by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider's stock valued at $10,410,575,000 after purchasing an additional 162,638 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Principal Financial Group Inc. raised its stake in Equinix by 3.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider's stock valued at $1,542,595,000 after purchasing an additional 56,592 shares during the last quarter. APG Asset Management US Inc. raised its stake in Equinix by 0.4% during the 3rd quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider's stock valued at $937,530,000 after purchasing an additional 5,109 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider's stock valued at $929,312,000 after purchasing an additional 953,001 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jonathan Lin sold 635 shares of the company's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.71, for a total value of $613,225.85. Following the sale, the insider owned 10,788 shares of the company's stock, valued at approximately $10,418,079.48. This represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 305 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $961.19, for a total transaction of $293,162.95. Following the sale, the chairman directly owned 12,594 shares in the company, valued at approximately $12,105,226.86. This represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,266 shares of company stock worth $14,927,320 in the last quarter. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Down 0.4%

EQIX opened at $1,052.98 on Thursday. The firm's 50-day simple moving average is $962.55 and its 200-day simple moving average is $847.98. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. Equinix, Inc. has a twelve month low of $710.52 and a twelve month high of $1,060.07. The firm has a market cap of $103.85 billion, a price-to-earnings ratio of 76.58, a PEG ratio of 2.70 and a beta of 1.01.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the company posted $7.92 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were issued a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Equinix's previous quarterly dividend of $4.69. Equinix's payout ratio is currently 150.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Equinix in a research note on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 target price for the company. Jefferies Financial Group boosted their price target on shares of Equinix from $950.00 to $1,000.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Cantor Fitzgerald assumed coverage on shares of Equinix in a report on Thursday, April 9th. They issued an "overweight" rating and a $1,173.00 price target on the stock. Guggenheim boosted their price target on shares of Equinix from $933.00 to $985.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Finally, Citigroup reissued a "buy" rating on shares of Equinix in a report on Thursday, February 12th. Five analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Equinix has an average rating of "Moderate Buy" and an average target price of $1,033.57.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix's offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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