MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1,977.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,971 shares of the financial services provider's stock after acquiring an additional 2,828 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Equinix were worth $2,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EQIX. Brighton Jones LLC grew its holdings in Equinix by 28.9% during the fourth 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 during the period. Vontobel Holding Ltd. grew its holdings in Equinix by 57.5% during the fourth quarter. Vontobel Holding Ltd. now owns 4,969 shares of the financial services provider's stock valued at $4,685,000 after purchasing an additional 1,814 shares during the period. Valeo Financial Advisors LLC grew its holdings in Equinix by 0.9% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,767 shares of the financial services provider's stock valued at $2,609,000 after purchasing an additional 26 shares during the period. Bank Pictet & Cie Europe AG bought a new position in Equinix during the fourth quarter valued at $2,027,000. Finally, Sierra Ocean LLC bought a new position in Equinix during the fourth quarter valued at $42,000. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction dated 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 in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Friday, May 16th. The stock was 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 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. Over the last quarter, insiders have sold 3,176 shares of company stock worth $2,808,008. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EQIX. Wolfe Research lowered Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Barclays lifted their price target on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Scotiabank reduced their price target on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 22nd. New Street Research upgraded Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $1,004.80.

Equinix Trading Down 0.4%

NASDAQ EQIX opened at $892.64 on Monday. The stock's 50-day simple moving average is $851.86 and its two-hundred day simple moving average is $887.80. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $87.32 billion, a price-to-earnings ratio of 104.40, a PEG ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the business posted $8.86 earnings per share. The company's revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.10%. Equinix's dividend payout ratio is currently 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.

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