Skandinaviska Enskilda Banken AB publ trimmed its position in Equinix, Inc. (REIT) (NASDAQ:EQIX) by 28.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,857 shares of the financial services provider’s stock after selling 7,240 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Equinix were worth $14,332,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. QCM Cayman Ltd. purchased a new stake in shares of Equinix in the second quarter worth $330,000. Ethic Inc. grew its stake in shares of Equinix by 70.2% in the second quarter. Ethic Inc. now owns 2,063 shares of the financial services provider’s stock worth $1,656,000 after acquiring an additional 851 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV purchased a new stake in shares of Equinix in the second quarter worth $286,000. BNP Paribas Arbitrage SA grew its stake in shares of Equinix by 136.2% in the second quarter. BNP Paribas Arbitrage SA now owns 56,472 shares of the financial services provider’s stock worth $45,324,000 after acquiring an additional 32,559 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Equinix by 163.8% in the second quarter. Van ECK Associates Corp now owns 2,728 shares of the financial services provider’s stock worth $2,189,000 after acquiring an additional 1,694 shares during the last quarter. 93.80% of the stock is currently owned by institutional investors.
EQIX stock opened at $834.89 on Wednesday. Equinix, Inc. has a fifty-two week low of $586.73 and a fifty-two week high of $885.26. The business’s 50-day moving average is $832.46 and its two-hundred day moving average is $760.82. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market cap of $74.93 billion, a price-to-earnings ratio of 219.13, a P/E/G ratio of 2.32 and a beta of 0.30.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 22nd. Stockholders of record on Wednesday, August 18th will be paid a $2.87 dividend. This represents a $11.48 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, August 17th. Equinix’s dividend payout ratio (DPR) is currently 46.37%.
In related news, insider Michael Earl Campbell sold 1,200 shares of the stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $884.36, for a total transaction of $1,061,232.00. Following the completion of the sale, the insider now owns 7,519 shares in the company, valued at $6,649,502.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Camp Peter Van sold 1,456 shares of the stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $828.52, for a total value of $1,206,325.12. The disclosure for this sale can be found here. Insiders sold 21,355 shares of company stock worth $18,116,589 in the last ninety days. Corporate insiders own 13.20% of the company’s stock.
EQIX has been the topic of a number of recent research reports. Cowen increased their target price on Equinix from $790.00 to $890.00 and gave the stock an “outperform” rating in a research note on Thursday, June 24th. Truist upped their price target on Equinix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Oppenheimer downgraded Equinix from an “outperform” rating to a “market perform” rating and set a $880.00 price target on the stock. in a report on Friday, September 10th. Credit Suisse Group upped their price target on Equinix from $907.00 to $942.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on Equinix from $861.00 to $895.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $880.94.
Equinix, Inc engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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