Truist Financial Corp Has $42.64 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Truist Financial Corp lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,301 shares of the financial services provider's stock after purchasing an additional 3,981 shares during the period. Truist Financial Corp owned 0.05% of Equinix worth $42,643,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. IFM Investors Pty Ltd increased its stake in shares of Equinix by 3.4% during the 1st quarter. IFM Investors Pty Ltd now owns 42,427 shares of the financial services provider's stock worth $37,659,000 after purchasing an additional 1,380 shares during the last quarter. GF Fund Management CO. LTD. increased its stake in shares of Equinix by 6.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,828 shares of the financial services provider's stock worth $1,490,000 after purchasing an additional 103 shares during the last quarter. Calamos Advisors LLC increased its stake in shares of Equinix by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 13,386 shares of the financial services provider's stock worth $10,914,000 after purchasing an additional 149 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in Equinix by 23.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,514 shares of the financial services provider's stock valued at $1,234,000 after buying an additional 290 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Equinix by 1.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,374 shares of the financial services provider's stock valued at $6,828,000 after buying an additional 100 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Down 1.0%

EQIX opened at $787.50 on Monday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average of $865.90 and a 200-day moving average of $874.50. The stock has a market cap of $77.03 billion, a PE ratio of 81.86, a price-to-earnings-growth ratio of 1.13 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its 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. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. Equinix's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $8.86 earnings per share. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is 195.01%.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on 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 directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,176 shares of company stock valued at $2,808,008. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

EQIX has been the topic of a number of research reports. Scotiabank decreased their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company cut their price objective on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. Cowen reissued a "buy" rating on shares of Equinix in a report on Thursday. Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Stifel Nicolaus cut their price target on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix currently has an average rating of "Buy" and a consensus target price of $960.55.

Equinix Company 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.

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