Pekao Towarzystwo Funduszy Inwestycyjnych S.A. Makes New $3.10 Million Investment in Equinix, Inc. $EQIX

Key Points

• Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired 4,045 shares of Equinix in Q4 valued at about $3.10 million, making the stock 2.5% of the fund’s portfolio and its 12th-largest holding.
• Equinix recently missed quarterly estimates (EPS $8.91 vs. $9.07; revenue $2.42B vs. $2.46B) though revenue grew 7% year-over-year, the company has a market cap of about $107.4B and raised its quarterly dividend to $5.16 (annualized $20.64, ~1.9% yield) with a payout ratio near 150%.
• About 94.9% institutional ownership and several large investors (e.g., JPMorgan, Sumitomo Mitsui) have increased stakes recently, analysts collectively rate Equinix a "Moderate Buy" with an average target near $1,046.57, while insiders have been net sellers.

Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,045 shares of the financial services provider's stock, valued at approximately $3,099,000. Equinix accounts for 2.5% of Pekao Towarzystwo Funduszy Inwestycyjnych S.A.'s investment portfolio, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider's stock valued at $426,444,000 after acquiring an additional 7,409 shares during the period. Douglas Lane & Associates LLC boosted its position in shares of Equinix by 3.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider's stock valued at $85,833,000 after acquiring an additional 4,241 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider's stock valued at $2,252,094,000 after acquiring an additional 588,967 shares during the period. Chilton Capital Management LLC boosted its position in shares of Equinix by 5.1% in the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider's stock valued at $28,908,000 after acquiring an additional 1,805 shares during the period. Finally, Foresight Group Ltd Liability Partnership boosted its position in shares of Equinix by 10.0% in the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider's stock valued at $20,425,000 after acquiring an additional 2,378 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Stock Up 1.7%

EQIX stock opened at $1,088.62 on Friday. The company has a market cap of $107.36 billion, a PE ratio of 79.17, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01. The business has a 50-day simple moving average of $972.62 and a 200 day simple moving average of $852.14. Equinix, Inc. has a 52 week low of $710.52 and a 52 week high of $1,093.03. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing analysts' consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $7.92 EPS. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. This is a boost from Equinix's previous quarterly dividend of $4.69. The ex-dividend date of this dividend was Wednesday, February 25th. Equinix's payout ratio is presently 150.11%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EQIX shares. Cantor Fitzgerald started coverage on shares of Equinix in a research report on Thursday, April 9th. They issued an "overweight" rating and a $1,173.00 target price for the company. Citigroup boosted their target price on shares of Equinix from $1,070.00 to $1,200.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Thursday, February 12th. The Goldman Sachs Group boosted their target price 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. Finally, TD Cowen reaffirmed a "buy" rating on shares of Equinix in a research note on Thursday, February 12th. Five equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,046.57.

Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 584 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $965.69, for a total value of $563,962.96. Following the completion of the transaction, the executive vice president 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Lin sold 635 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $965.71, for a total value of $613,225.85. Following the transaction, the insider directly owned 10,788 shares of the company's stock, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,380 shares of company stock valued at $6,179,022 over the last 90 days. 0.27% of the stock is owned by company insiders.

Equinix 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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