Victory Capital Management Inc. Acquires 1,508 Shares of Equinix, Inc. (NASDAQ:EQIX)

Victory Capital Management Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,629 shares of the financial services provider's stock after buying an additional 1,508 shares during the period. Victory Capital Management Inc.'s holdings in Equinix were worth $36,388,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQIX. Norges Bank bought a new position in shares of Equinix during the 4th quarter worth about $1,067,270,000. GAMMA Investing LLC lifted its holdings in shares of Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after acquiring an additional 889,282 shares during the period. Northern Trust Corp lifted its holdings in shares of Equinix by 65.3% during the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Equinix by 28.7% during the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after acquiring an additional 401,991 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Equinix during the 4th quarter worth about $205,641,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQIX. UBS Group dropped their target price on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Mizuho dropped their target price on shares of Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. Bank of America dropped their target price on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company dropped their target price on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, June 26th. Four investment 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 stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $957.05.

Equinix Price Performance

Shares of EQIX opened at $777.78 on Friday. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm has a market capitalization of $76.08 billion, a PE ratio of 80.85, a PEG ratio of 1.32 and a beta of 0.93. The company's 50-day moving average is $846.17 and its 200-day moving average is $862.76. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $8.86 earnings per share. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.41%. Equinix's dividend payout ratio is presently 195.01%.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares in the company, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurt Pletcher sold 127 shares of the firm'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 transaction, the insider owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 in the last ninety days. Company insiders own 0.27% of the company's stock.

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.

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