PensionDanmark Pensionsforsikringsaktieselskab Increases Position in Equinix, Inc. $EQIX

Key Points

• PensionDanmark increased its Equinix stake by 15.8% in the second quarter, holding 23,854 shares valued at approximately $24.9 million. Institutional investors collectively own 94.94% of the company.
• Equinix declared a quarterly dividend of $5.16 per share, equivalent to $20.64 annually and a 2.0% yield. The payout ratio stands at 132.9%.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $1,196.20, compared with the stock’s reported price of $1,052.86. Meanwhile, insiders sold nearly $10.4 million worth of shares during the quarter.

PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 15.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,854 shares of the financial services provider's stock after purchasing an additional 3,263 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Equinix were worth $24,865,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Equinix by 28.9% in the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Equinix by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider's stock worth $425,000 after buying an additional 54 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Equinix by 21.8% in the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider's stock worth $2,487,000 after buying an additional 546 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in shares of Equinix during the second quarter worth $231,000. Finally, Brown Advisory Inc. boosted its position in shares of Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider's stock worth $854,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Price Performance

EQIX stock opened at $1,052.86 on Friday. Equinix, Inc. has a 52 week low of $720.62 and a 52 week high of $1,128.68. The firm has a market capitalization of $103.89 billion, a P/E ratio of 67.80, a price-to-earnings-growth ratio of 1.50 and a beta of 0.99. The company has a fifty day simple moving average of $1,051.19 and a two-hundred day simple moving average of $1,003.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.44.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be issued a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix's dividend payout ratio (DPR) is presently 132.90%.

Analysts Set New Price Targets

A number of analysts have issued reports on EQIX shares. Mizuho lifted their price target on shares of Equinix from $1,165.00 to $1,200.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Stifel Nicolaus raised their price objective on Equinix from $1,250.00 to $1,265.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Jefferies Financial Group reiterated a "buy" rating and issued a $1,340.00 target price on shares of Equinix in a research report on Thursday, July 30th. Citigroup reissued a "market outperform" rating on shares of Equinix in a research note on Tuesday. Finally, HSBC raised their price target on Equinix from $1,100.00 to $1,250.00 and gave the company a "buy" rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,196.20.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the completion of the transaction, the insider owned 6,132 shares in the company, valued at approximately $6,600,239.52. The trade was a 37.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total value of $4,077,120.00. Following the transaction, the director directly owned 13,859 shares in the company, valued at approximately $14,126,201.52. This represents a 22.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 9,891 shares of company stock worth $10,430,452. Corporate insiders own 0.27% of the company's stock.

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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