Skandinaviska Enskilda Banken AB publ Raises Stake in Equinix, Inc. $EQIX

Skandinaviska Enskilda Banken AB publ boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 37.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,922 shares of the financial services provider’s stock after purchasing an additional 25,732 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.10% of Equinix worth $74,307,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Westside Investment Management Inc. grew its stake in shares of Equinix by 190.9% in the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Equinix in the second quarter worth $26,000. Bank of Jackson Hole Trust grew its stake in shares of Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Abound Wealth Management increased its holdings in shares of Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Equinix in the 2nd quarter worth about $28,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Trading Down 0.2%

NASDAQ:EQIX opened at $956.19 on Tuesday. The company has a market cap of $93.95 billion, a PE ratio of 69.54, a price-to-earnings-growth ratio of 1.64 and a beta of 1.06. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The company has a 50 day simple moving average of $797.01 and a two-hundred day simple moving average of $790.66. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the company earned $7.92 earnings per share. Equinix’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is presently 136.44%.

Wall Street Analyst Weigh In

Several analysts recently commented on EQIX shares. UBS Group increased their price objective on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research report on Thursday. HSBC set a $1,050.00 price target on shares of Equinix and gave the company a “buy” rating in a report on Thursday, January 15th. Daiwa Securities Group set a $917.00 price objective on shares of Equinix and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Jefferies Financial Group increased their target price on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Barclays reissued a “positive” rating and issued a $870.00 target price on shares of Equinix in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $996.23.

Insider Activity

In other news, insider Jonathan Lin sold 888 shares of Equinix stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $711,980.64. Following the transaction, the insider owned 9,390 shares in the company, valued at $7,528,714.20. This trade represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Raouf Abdel sold 927 shares of the business’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the sale, the executive vice president directly owned 7,337 shares of the company’s stock, valued at approximately $5,882,659.86. The trade was a 11.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 14,353 shares of company stock worth $11,283,043. Company insiders own 0.27% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.