Swiss National Bank Has $221.94 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• The Swiss National Bank increased its stake in Equinix, Inc. by purchasing an additional 3,900 shares, bringing its total holdings to 272,203 shares worth approximately $221.9 million.
• Equinix reported earnings of $9.91 per share for the last quarter, significantly beating analysts' consensus estimates by $6.42, and achieving a 4.5% year-over-year revenue growth.
• The company announced a quarterly dividend of $4.69 per share, reflecting an annualized yield of 2.4% and a payout ratio of 183.74%.

Swiss National Bank raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,203 shares of the financial services provider's stock after acquiring an additional 3,900 shares during the quarter. Swiss National Bank owned approximately 0.28% of Equinix worth $221,941,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Truist Financial Corp lifted its stake in Equinix by 8.2% during the first quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock worth $42,643,000 after purchasing an additional 3,981 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Equinix by 71.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock worth $60,690,000 after buying an additional 31,073 shares during the period. First United Bank & Trust acquired a new stake in Equinix in the 1st quarter valued at $451,000. Miller Howard Investments Inc. NY grew its position in Equinix by 20.1% in the first quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock valued at $3,150,000 after acquiring an additional 646 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Equinix by 113.2% during the first quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock worth $14,639,000 after acquiring an additional 9,534 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director owned 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated 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 transaction, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Equinix Trading Up 0.1%

EQIX traded up $0.55 during midday trading on Monday, reaching $776.75. 311,785 shares of the company were exchanged, compared to its average volume of 522,996. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.54 and a current ratio of 1.54. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The stock has a market capitalization of $76.01 billion, a P/E ratio of 21.24, a PEG ratio of 1.40 and a beta of 0.90. The stock's 50-day simple moving average is $820.97 and its 200 day simple moving average is $847.72.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The firm had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter last year, the business earned $9.22 earnings per share. The company's revenue was up 4.5% compared to the same quarter last year. As a group, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix's payout ratio is 183.74%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Equinix from $904.00 to $961.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America decreased their price objective on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Tuesday, July 22nd. Barclays decreased their price target on Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. Finally, Wolfe Research downgraded Equinix from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Five investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $959.86.

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.