Investment Management Corp of Ontario Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Investment Management Corp of Ontario lifted its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 39.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,518 shares of the financial services provider's stock after buying an additional 1,277 shares during the period. Investment Management Corp of Ontario's holdings in Equinix were worth $4,260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Norges Bank acquired a new position in Equinix in the fourth quarter valued at $1,067,270,000. Northern Trust Corp grew its holdings in shares of Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after buying an additional 586,034 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after buying an additional 401,991 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Equinix in the 4th quarter valued at about $328,899,000. Finally, Proficio Capital Partners LLC purchased a new stake in Equinix during the 4th quarter valued at approximately $246,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EQIX shares. Citizens Jmp raised Equinix to a "strong-buy" rating in a report on Monday, January 27th. Barclays raised their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. BNP Paribas upgraded shares of Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Citigroup raised their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, Scotiabank dropped their target price on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $1,004.89.

Equinix Price Performance

Shares of EQIX stock traded down $9.58 during trading hours on Wednesday, hitting $859.21. The company's stock had a trading volume of 590,139 shares, compared to its average volume of 527,675. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The stock has a market cap of $84.05 billion, a price-to-earnings ratio of 100.49, a P/E/G ratio of 1.78 and a beta of 0.97. The business has a fifty day moving average of $823.93 and a 200-day moving average of $893.38.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the firm posted $8.86 earnings per share. The company's quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,167 shares of company stock valued at $6,658,536 over the last quarter. Company insiders own 0.27% of the company's stock.

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.