812,735 Shares in Equinix, Inc. (NASDAQ:EQIX) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired approximately 812,735 shares of Equinix, Inc. for a total investment of about $662.66 million, representing 0.83% ownership in the company.
• The recent earnings report showed Equinix delivering $9.91 EPS, significantly exceeding expectations of $3.49, along with a quarterly revenue of $2.26 billion.
• Equinix has declared a quarterly dividend of $4.69 per share, which will be paid on September 17, contributing to an annualized dividend yield of 2.4%.

Nuveen LLC purchased a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 812,735 shares of the financial services provider's stock, valued at approximately $662,663,000. Nuveen LLC owned approximately 0.83% of Equinix at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new stake in Equinix during the 1st quarter valued at $1,002,000. Virtu Financial LLC acquired a new position in Equinix during the 1st quarter worth $4,616,000. Entropy Technologies LP acquired a new position in Equinix during the 1st quarter worth $12,541,000. True North Advisors LLC acquired a new position in Equinix during the 1st quarter worth $412,000. Finally, Benjamin Edwards Inc. grew its holdings in Equinix by 18.9% during the 1st quarter. Benjamin Edwards Inc. now owns 36,378 shares of the financial services provider's stock worth $29,662,000 after acquiring an additional 5,776 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the company's 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 sale, the director directly owned 17,569 shares of the company's stock, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were 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 directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

Equinix stock traded up $10.57 on Tuesday, hitting $787.32. The company's stock had a trading volume of 337,865 shares, compared to its average volume of 517,187. The firm has a market cap of $77.05 billion, a P/E ratio of 77.11, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average price of $818.70 and a 200-day moving average price of $846.57. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03.

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

Equinix Announces Dividend

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

Wall Street Analyst Weigh In

EQIX has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a report on Thursday, June 26th. TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a report on Thursday, May 1st. BMO Capital Markets downgraded shares of Equinix from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Finally, Mizuho reduced their price target on shares of Equinix from $1,069.00 to $900.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 1st. Five research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $959.86.

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.