ProShare Advisors LLC raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,037 shares of the financial services provider’s stock after purchasing an additional 756 shares during the period. ProShare Advisors LLC’s holdings in Equinix were worth $18,246,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. BlackRock Inc. acquired a new position in shares of Equinix in the second quarter worth approximately $11,930,074,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Equinix by 26,831.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock valued at $1,291,648,000 after purchasing an additional 1,234,521 shares during the period. Legal & General Group Plc acquired a new stake in Equinix during the 2nd quarter valued at approximately $1,181,260,000. Canada Pension Plan Investment Board acquired a new stake in Equinix during the 2nd quarter valued at approximately $1,163,662,000. Finally, Deutsche Bank AG bought a new position in Equinix during the second quarter worth $1,118,930,000. 94.94% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on EQIX shares. Raymond James Financial restated a “strong-buy” rating and set a $1,250.00 target price on shares of Equinix in a research report on Thursday. Truist Financial lifted their target price on Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a report on Friday, July 31st. HSBC dropped their price target on Equinix from $1,400.00 to $1,380.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Canadian Imperial Bank of Commerce initiated coverage on Equinix in a report on Tuesday, October 20th. They set an “outperform” rating and a $1,200.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Equinix from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $1,226.97.
Get Our Latest Report on Equinix
Equinix Stock Down 2.0%
Shares of NASDAQ:EQIX opened at $993.69 on Tuesday. The business’s 50 day simple moving average is $1,020.84 and its two-hundred day simple moving average is $1,008.86. The firm has a market cap of $98.05 billion, a P/E ratio of 23.37, a PEG ratio of 1.44 and a beta of 0.98. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. Equinix, Inc. has a 52-week low of $720.62 and a 52-week high of $1,128.68.
Equinix (NASDAQ:EQIX – Get Free Report) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. Equinix had a return on equity of 11.55% and a net margin of 16.38%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $9.83 EPS. Equinix’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Equinix, Inc. will post 38.23 EPS for the current fiscal year.
Equinix Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $5.16 per share. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 annualized dividend and a yield of 2.1%. Equinix’s dividend payout ratio is presently 123.96%.
Insider Buying and Selling at Equinix
In other news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the sale, the director directly owned 13,734 shares of the company’s stock, valued at $15,156,567.72. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the completion of the sale, the insider owned 2,450 shares in the company, valued at $2,535,774.50. This represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 770 shares of company stock valued at $807,077. Corporate insiders own 0.27% of the company’s stock.
Equinix Company Profile
Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.
The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.
Featured Articles
- Five stocks we like better than Equinix
- AbbVie’s Humira Era Is Fading, But Its New Growth Engines Face Another Test
- GLP-1 Focus or Broader Peptide Exposure: Which ETF Has the Edge?
- Mortgage Rates Froze U.S. Housing, But These 3 Overseas Markets Still Pay Double Digits
- Big Tech Is Spending Billions on AI—These 5 Stocks Are Getting Paid
Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX – Free Report).
Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.
