Toronto Dominion Bank Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Toronto Dominion Bank boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,495 shares of the financial services provider's stock after acquiring an additional 3,975 shares during the period. Toronto Dominion Bank owned 0.05% of Equinix worth $48,554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in Equinix in the 4th quarter worth $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the fourth quarter valued at about $39,000. Sierra Ocean LLC bought a new position in Equinix in the fourth quarter worth about $42,000. Thompson Investment Management Inc. bought a new position in Equinix in the fourth quarter worth about $47,000. Finally, Cary Street Partners Financial LLC bought a new stake in Equinix during the 4th quarter valued at approximately $52,000. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director now directly owns 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. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EQIX has been the subject of a number of research reports. BNP Paribas upgraded Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target for the company in a research report on Thursday, March 27th. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Citigroup raised their target price on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, Citizens Jmp raised Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $1,004.65.

Equinix Stock Down 0.5%

Shares of NASDAQ:EQIX traded down $4.71 during trading on Friday, hitting $861.80. 107,095 shares of the company were exchanged, compared to its average volume of 523,504. The firm's 50 day moving average price is $827.36 and its 200-day moving average price is $892.01. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $84.30 billion, a P/E ratio of 100.68, a PEG ratio of 1.78 and a beta of 0.97.

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 for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The firm had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equinix's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $8.86 earnings per share. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.18%. Equinix's dividend payout ratio is presently 195.01%.

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.