Skandinaviska Enskilda Banken AB publ Has $18.34 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in Equinix by 3.3% by purchasing 709 shares, bringing its total to 22,491 shares valued at approximately $18.34 million.
• A variety of institutional investors are actively adjusting their positions in Equinix, with 94.94% of the stock currently held by such entities.
• Equinix recently announced a quarterly dividend of $4.69 per share, resulting in an annual yield of 2.34%, despite a high dividend payout ratio of 195.01%.

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,491 shares of the financial services provider's stock after purchasing an additional 709 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Equinix were worth $18,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of EQIX. Pinney & Scofield Inc. acquired a new stake in Equinix in the 4th quarter valued at $28,000. Pacific Center for Financial Services boosted its stake in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after buying an additional 15 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after buying an additional 23 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after buying an additional 12 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in Equinix in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Trading Down 0.6%

NASDAQ EQIX traded down $4.60 on Wednesday, reaching $806.53. The company had a trading volume of 113,740 shares, compared to its average volume of 640,717. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The stock's 50 day moving average is $835.91 and its 200-day moving average is $855.79. The stock has a market cap of $78.89 billion, a price-to-earnings ratio of 83.71, a PEG ratio of 1.47 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EQIX. Cfra Research lowered Equinix from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, June 26th. BMO Capital Markets downgraded Equinix from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Guggenheim initiated coverage on Equinix in a research report on Thursday, July 10th. They issued a "buy" rating and a $933.00 price objective for the company. Wells Fargo & Company cut their price objective on Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Finally, Bank of America cut their price objective on Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, Equinix currently has an average rating of "Buy" and a consensus price target of $957.05.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was 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 in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction dated 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 owned 1,842 shares of the company's stock, valued at $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

About Equinix

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.