Zurcher Kantonalbank Zurich Cantonalbank Has $73.21 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has reduced its position in Equinix, Inc. (NASDAQ: EQIX) by 9.7%, now owning shares worth approximately $73.21 million.
• Equinix reported $9.67 earnings per share for the last quarter, surpassing analysts' expectations of $9.01, and experienced a revenue increase of 4.1% year-over-year.
• The company's recent quarterly dividend of $4.69 reflects an annualized yield of 2.34%, although its payout ratio stands at a high 195.01%.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 9.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 89,795 shares of the financial services provider's stock after selling 9,694 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Equinix worth $73,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EQIX. GAMMA Investing LLC raised its position 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 valued at $725,957,000 after acquiring an additional 889,282 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after buying an additional 586,034 shares during the period. Wellington Management Group LLP grew its holdings in shares of Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after buying an additional 401,991 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Equinix in the 4th quarter valued at $205,641,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Equinix by 45.0% in the 4th quarter. Janus Henderson Group PLC now owns 535,847 shares of the financial services provider's stock valued at $505,280,000 after buying an additional 166,206 shares during the period. Institutional investors own 94.94% of the company's stock.

Equinix Stock Performance

NASDAQ:EQIX traded down $9.97 during mid-day trading on Wednesday, hitting $801.16. The stock had a trading volume of 142,527 shares, compared to its average volume of 640,938. The company's 50 day simple moving average is $835.91 and its 200 day simple moving average is $855.79. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market cap of $78.37 billion, a price-to-earnings ratio of 83.30, a PEG ratio of 1.47 and a beta of 0.93. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data 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 net margin of 10.48% and a return on equity of 6.96%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the business posted $8.86 earnings per share. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's 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 directly owned 17,569 shares of the company's stock, valued at $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider directly owned 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EQIX shares. JMP Securities reiterated a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a report on Tuesday, July 22nd. BNP Paribas upgraded Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Cfra Research cut Equinix from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, June 26th. Barclays cut their price objective on Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Finally, Citigroup upped their target price on shares of Equinix from $970.00 to $990.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $957.05.

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.