Mirae Asset Global Investments Co. Ltd. increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,274 shares of the financial services provider's stock after acquiring an additional 1,294 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Equinix were worth $16,280,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Equinix in the 4th quarter valued at $1,067,270,000. GAMMA Investing LLC grew its position in Equinix by 82,340.9% during the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after buying an additional 889,282 shares during the period. Northern Trust Corp increased its holdings in Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after buying an additional 586,034 shares during the last quarter. Wellington Management Group LLP increased its holdings in Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after buying an additional 401,991 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Equinix in the fourth quarter worth about $328,899,000. 94.94% of the stock is owned by hedge funds and other institutional investors.
Equinix Price Performance
Equinix stock opened at $785.11 on Monday. The stock has a market cap of $76.80 billion, a price-to-earnings ratio of 81.61, a PEG ratio of 1.12 and a beta of 0.97. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The business has a 50-day simple moving average of $867.26 and a 200 day simple moving average of $879.89. Equinix, Inc. has a 52 week low of $618.00 and a 52 week high of $994.03.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $8.86 EPS. On average, research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.
Equinix Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Wednesday, May 21st. Equinix's payout ratio is 195.01%.
Insider Transactions at Equinix
In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer now directly owns 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now directly owns 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 in the last quarter. Insiders own 0.27% of the company's stock.
Wall Street Analyst Weigh In
EQIX has been the subject of several research analyst reports. Cowen restated a "buy" rating on shares of Equinix in a research note on Thursday, May 1st. TD Securities increased their price objective on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Scotiabank decreased their target price on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research report on Thursday. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their price target on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research note on Thursday. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has an average rating of "Buy" and an average target price of $977.30.
Check Out Our Latest Research Report on Equinix
Equinix Company Profile
(
Free Report)
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.
Further Reading
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