Capital Research Global Investors Boosts Holdings in Equinix, Inc. $EQIX

Capital Research Global Investors raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 577,518 shares of the financial services provider’s stock after purchasing an additional 10,947 shares during the quarter. Capital Research Global Investors’ holdings in Equinix were worth $452,335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in EQIX. Ameriflex Group Inc. raised its holdings in Equinix by 433.3% during the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 26 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Equinix during the second quarter worth about $26,000. Abound Wealth Management grew its stake in Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in Equinix in the second quarter valued at $28,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Equinix during the 3rd quarter worth about $37,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EQIX. TD Cowen reiterated a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $915.00 price target on Equinix in a research note on Tuesday, January 6th. Truist Financial raised their price objective on shares of Equinix from $973.00 to $1,087.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus set a $1,075.00 price target on Equinix in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,006.91.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,670 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.08, for a total transaction of $2,146,893.60. Following the sale, the chief executive officer directly owned 14,857 shares of the company’s stock, valued at approximately $11,946,216.56. The trade was a 15.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,602 shares of company stock worth $11,369,645 in the last 90 days. 0.27% of the stock is currently owned by insiders.

Equinix Trading Up 1.2%

Shares of NASDAQ:EQIX opened at $956.07 on Wednesday. The firm has a market capitalization of $93.94 billion, a P/E ratio of 69.53, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. The firm has a fifty day moving average of $859.41 and a two-hundred day moving average of $810.10. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $992.90.

Equinix (NASDAQ:EQIX) last posted its 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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business earned $7.92 earnings per share. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. Equinix’s dividend payout ratio is currently 150.11%.

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.