Mitsubishi UFJ Asset Management Co. Ltd. Purchases 23,721 Shares of Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Equinix, Inc. by 11.0%, purchasing an additional 23,721 shares, bringing its total ownership to 239,779 shares valued at approximately $195 million.
• Equinix reported $9.91 earnings per share (EPS) for the last quarter, significantly exceeding the consensus estimate of $3.49, and showed a 4.5% year-over-year revenue growth.
• The company announced a quarterly dividend of $4.69, resulting in an annualized yield of 2.4%, with a payout ratio of 183.74%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,779 shares of the financial services provider's stock after buying an additional 23,721 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Equinix worth $195,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQIX. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter worth approximately $28,000. Pacific Center for Financial Services grew its holdings in Equinix by 65.2% during the fourth 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 period. Whipplewood Advisors LLC increased its position in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after buying an additional 23 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after buying an additional 12 shares during the period. Finally, Tidemark LLC lifted its position in shares of Equinix by 57.1% during the 1st quarter. Tidemark LLC now owns 44 shares of the financial services provider's stock valued at $36,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EQIX. Cfra Research lowered Equinix from a "moderate buy" rating to a "hold" rating in a report on Thursday, July 31st. Cowen reiterated a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. Barclays lowered their price target on shares of Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Wolfe Research cut shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Five investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $959.86.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer owned 9,615 shares in the company, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Equinix Price Performance

Shares of Equinix stock opened at $779.34 on Friday. The firm has a market capitalization of $76.27 billion, a PE ratio of 76.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The business's 50-day moving average price is $823.23 and its 200-day moving average price is $849.99.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. Equinix's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.22 earnings per share. Sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix's dividend payout ratio (DPR) is presently 183.74%.

Equinix 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.

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