OVERSEA CHINESE BANKING Corp Ltd Acquires 2,311 Shares of Equinix, Inc. (NASDAQ:EQIX)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 11.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 22,058 shares of the financial services provider's stock after acquiring an additional 2,311 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Equinix were worth $17,985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in Equinix during the 4th quarter valued at $1,067,270,000. GAMMA Investing LLC raised its position in Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after purchasing an additional 889,282 shares in the last quarter. Northern Trust Corp raised its position in Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after purchasing an additional 586,034 shares in the last quarter. Wellington Management Group LLP raised its position in Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after purchasing an additional 401,991 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Equinix during the 4th quarter valued at $205,641,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their price target on Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Cfra Research downgraded Equinix from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, June 26th. New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Citigroup upped their target price on Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Barclays reduced their price target on Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $957.05.

Equinix Trading Down 0.3%

Shares of Equinix stock opened at $756.70 on Monday. The firm has a market capitalization of $74.02 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a 50 day moving average of $856.50 and a 200 day moving average of $868.27.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $8.86 earnings per share. As a group, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.48%. Equinix's dividend payout ratio is currently 195.01%.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction 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 directly owned 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 over the last ninety days. Company insiders own 0.27% of the company's stock.

Equinix Company 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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