13,014 Shares in Equinix, Inc. $EQIX Acquired by Pensionfund PDN

Pensionfund PDN bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,014 shares of the financial services provider’s stock, valued at approximately $9,971,000. Equinix accounts for about 6.6% of Pensionfund PDN’s investment portfolio, making the stock its 2nd largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in EQIX. Avanza Fonder AB increased its position in shares of Equinix by 11.1% during the 4th quarter. Avanza Fonder AB now owns 7,615 shares of the financial services provider’s stock valued at $5,834,000 after purchasing an additional 758 shares during the period. SG Americas Securities LLC raised its stake in shares of Equinix by 377,167.4% in the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider’s stock worth $549,190,000 after buying an additional 716,618 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Equinix by 1.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,243 shares of the financial services provider’s stock valued at $3,251,000 after buying an additional 57 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its stake in Equinix by 11.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 4,650 shares of the financial services provider’s stock valued at $3,562,000 after buying an additional 464 shares in the last quarter. Finally, Gradient Investments LLC boosted its stake in Equinix by 0.4% during the fourth quarter. Gradient Investments LLC now owns 25,817 shares of the financial services provider’s stock valued at $19,780,000 after buying an additional 93 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other news, insider Jonathan Lin sold 635 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $965.71, for a total transaction of $613,225.85. Following the sale, the insider owned 10,788 shares in the company, valued at $10,418,079.48. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 630 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total transaction of $605,549.70. Following the completion of the sale, the insider owned 10,394 shares of the company’s stock, valued at approximately $9,990,608.86. This trade represents a 5.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,842 shares of company stock valued at $14,494,840 over the last three months. 0.27% of the stock is owned by insiders.

Equinix Trading Up 0.8%

NASDAQ:EQIX opened at $966.96 on Tuesday. 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 1-year low of $701.41 and a 1-year high of $992.90. The firm has a market capitalization of $95.00 billion, a price-to-earnings ratio of 70.32, a price-to-earnings-growth ratio of 2.47 and a beta of 1.04. The stock has a fifty day simple moving average of $894.44 and a 200 day simple moving average of $822.32.

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

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were given a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 2.1%. This is an increase from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date of this dividend was Wednesday, February 25th. Equinix’s payout ratio is 150.11%.

Analyst Ratings Changes

A number of research firms recently issued reports on EQIX. BMO Capital Markets lifted their target price on Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Jefferies Financial Group lifted their price objective on shares of Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Barclays boosted their target price on shares of Equinix from $870.00 to $1,020.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Truist Financial increased their target price on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, Scotiabank restated an “outperform” rating on shares of Equinix in a report on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.43.

Equinix Company Profile

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.