Raiffeisen Bank International AG Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Raiffeisen Bank International AG reduced its stake in Equinix, Inc. by 6.8%, selling 4,499 shares, and holds around 0.06% of the company valued at approximately $49.15 million.
• Several institutional investors increased their positions in Equinix, with Nisa Investment Advisors LLC boosting its stake by 71.7% during the same quarter.
• Equinix reported a significant earnings beat with earnings per share of $9.91, exceeding estimates of $3.49, while the company declared a quarterly dividend of $4.69 per share.

Raiffeisen Bank International AG decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,210 shares of the financial services provider's stock after selling 4,499 shares during the quarter. Raiffeisen Bank International AG owned about 0.06% of Equinix worth $49,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after buying an additional 81,144 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after buying an additional 14,294 shares during the period. Northern Trust Corp boosted its position in shares of Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after buying an additional 586,034 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Equinix by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,147,559 shares of the financial services provider's stock worth $1,082,022,000 after buying an additional 65,104 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Equinix by 2.6% during the fourth quarter. Capital Research Global Investors now owns 1,098,700 shares of the financial services provider's stock worth $1,035,953,000 after buying an additional 28,297 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider directly owned 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This represents a 0.57% 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 in the last ninety days. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EQIX. Citigroup lifted their target price on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Bank of America decreased their target price on Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Truist Financial decreased their target price on Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their price target on Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, The Goldman Sachs Group decreased their price target on Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a report on Wednesday, July 2nd. 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 company's stock. Based on data from MarketBeat, Equinix currently has an average rating of "Buy" and a consensus price target of $957.27.

Equinix Price Performance

Shares of NASDAQ:EQIX traded down $2.20 during trading on Tuesday, hitting $776.19. 70,972 shares of the stock were exchanged, compared to its average volume of 640,341. The company has a fifty day moving average price of $829.50 and a two-hundred day moving average price of $851.97. The company has a market cap of $75.96 billion, a PE ratio of 76.03, a P/E/G 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.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 7.22% and a net margin of 11.11%. Equinix's revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.22 EPS. On average, analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

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