Sompo Japan Nipponkoa Asset Management CO. LTD. Has $2.48 Million Stake in Equinix Inc (NASDAQ:EQIX)

Sompo Japan Nipponkoa Asset Management CO. LTD. increased its holdings in Equinix Inc (NASDAQ:EQIX) by 93.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,975 shares of the financial services provider’s stock after buying an additional 1,925 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Equinix were worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Muzinich & Co. Inc. increased its holdings in shares of Equinix by 10.8% during the fourth quarter. Muzinich & Co. Inc. now owns 174 shares of the financial services provider’s stock worth $101,000 after buying an additional 17 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in shares of Equinix by 2.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 657 shares of the financial services provider’s stock worth $410,000 after buying an additional 17 shares in the last quarter. San Francisco Sentry Investment Group CA increased its holdings in shares of Equinix by 0.8% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 2,472 shares of the financial services provider’s stock worth $1,443,000 after buying an additional 19 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in shares of Equinix by 7.2% during the fourth quarter. Belpointe Asset Management LLC now owns 296 shares of the financial services provider’s stock worth $173,000 after buying an additional 20 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its holdings in shares of Equinix by 1.3% during the fourth quarter. Wetherby Asset Management Inc. now owns 1,595 shares of the financial services provider’s stock worth $931,000 after buying an additional 21 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Several research analysts have recently issued reports on EQIX shares. Credit Suisse Group upped their price target on shares of Equinix from $630.00 to $704.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Argus upped their price target on shares of Equinix from $600.00 to $740.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. SunTrust Banks boosted their price objective on shares of Equinix from $680.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. BidaskClub cut shares of Equinix from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Cfra boosted their price objective on shares of Equinix from $590.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. Equinix currently has an average rating of “Buy” and an average target price of $684.89.

EQIX traded up $25.62 during trading on Friday, reaching $670.02. 498,695 shares of the stock traded hands, compared to its average volume of 619,200. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $55.37 billion, a PE ratio of 112.80, a P/E/G ratio of 1.41 and a beta of 0.43. The stock’s 50-day moving average is $668.64 and its 200 day moving average is $604.02. Equinix Inc has a 12 month low of $471.80 and a 12 month high of $715.75.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, missing the Zacks’ consensus estimate of $5.40 by ($4.02). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Equinix had a net margin of 9.00% and a return on equity of 5.80%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $5.95 EPS. As a group, equities research analysts anticipate that Equinix Inc will post 21.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be given a dividend of $2.66 per share. The ex-dividend date is Tuesday, May 19th. This represents a $10.64 dividend on an annualized basis and a yield of 1.59%. Equinix’s dividend payout ratio (DPR) is currently 46.65%.

In other news, insider Brandi Galvin Morandi sold 1,363 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $672.47, for a total transaction of $916,576.61. Following the transaction, the insider now owns 19,626 shares of the company’s stock, valued at approximately $13,197,896.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sara Baack sold 250 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $670.34, for a total transaction of $167,585.00. Following the transaction, the insider now directly owns 10,929 shares in the company, valued at approximately $7,326,145.86. The disclosure for this sale can be found here. Insiders have sold 14,139 shares of company stock worth $8,350,415 in the last ninety days. Insiders own 0.49% of the company’s stock.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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