Mirae Asset Global Investments Co. Ltd. Acquires 6,042 Shares of Equinix, Inc. $EQIX

Key Points

• Mirae Asset Global Investments increased its stake in Equinix by 28% in Q4, buying 6,042 shares to hold 27,605 shares valued at about $21.15 million.
• Several large institutions (including UBS AM, SG Americas, JPMorgan and Vanguard) also raised positions, leaving institutional ownership at roughly 94.94%.
• Equinix raised its quarterly dividend to $5.16 (annualized $20.64, yield 1.9%), although the dividend payout ratio is notably high at 150.11%.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 28.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,605 shares of the financial services provider's stock after purchasing an additional 6,042 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Equinix were worth $21,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EQIX. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 period. SG Americas Securities LLC raised its position in shares of Equinix by 377,167.4% during the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider's stock valued at $549,190,000 after purchasing an additional 716,618 shares during the period. JPMorgan Chase & Co. raised its position in shares of 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 period. Vanguard Group Inc. raised its position in shares of 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 period. Finally, Woodline Partners LP raised its position in shares of Equinix by 1,512.2% during the 3rd quarter. Woodline Partners LP now owns 170,199 shares of the financial services provider's stock valued at $133,307,000 after purchasing an additional 159,642 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Equinix

In other Equinix news, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.71, for a total value of $613,225.85. Following the completion of the transaction, the insider directly owned 10,788 shares of the company's stock, valued at $10,418,079.48. This trade represents a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the transaction, the executive vice president directly owned 7,768 shares of the company's stock, valued at $7,501,479.92. The trade was a 6.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,380 shares of company stock valued at $6,179,022 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

EQIX has been the topic of several recent analyst reports. TD Cowen restated a "buy" rating on shares of Equinix in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on shares of Equinix in a research report on Tuesday, January 6th. Truist Financial restated a "buy" rating and set a $1,127.00 price objective (up from $1,087.00) on shares of Equinix in a research report on Tuesday, March 31st. Sanford C. Bernstein initiated coverage on shares of Equinix in a research report on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Equinix from $785.00 to $894.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,046.57.

Equinix Stock Performance

EQIX opened at $1,088.62 on Friday. The stock has a market capitalization of $107.36 billion, a price-to-earnings ratio of 79.17, a PEG ratio of 2.73 and a beta of 1.01. The company has a fifty day moving average of $972.62 and a 200 day moving average of $852.14. Equinix, Inc. has a fifty-two week low of $710.52 and a fifty-two week high of $1,093.03. 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 (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). The company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $7.92 earnings per share. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were paid a dividend of $5.16 per share. 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. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix's dividend payout ratio is 150.11%.

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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