OVERSEA CHINESE BANKING Corp Ltd Sells 727 Shares of Equinix, Inc. $EQIX

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,019 shares of the financial services provider’s stock after selling 727 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Equinix were worth $11,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Equinix by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after buying an additional 7,409 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in shares of Equinix by 3.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 112,030 shares of the financial services provider’s stock worth $85,833,000 after buying an additional 4,241 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Equinix by 25.8% during the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after buying an additional 588,967 shares during the last quarter. Chilton Capital Management LLC grew its stake in shares of Equinix by 5.1% during the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock worth $28,908,000 after buying an additional 1,805 shares during the last quarter. Finally, Foresight Group Ltd Liability Partnership grew its stake in shares of Equinix by 10.0% during the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock worth $20,425,000 after buying an additional 2,378 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 1,086 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total value of $1,049,293.20. Following the transaction, the chief executive officer owned 19,574 shares in the company, valued at $18,912,398.80. The trade was a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raouf Abdel sold 584 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $965.69, for a total transaction of $563,962.96. Following the transaction, the executive vice president owned 7,768 shares in the company, valued at $7,501,479.92. This represents a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,380 shares of company stock valued at $6,179,022 over the last quarter. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $950.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. HSBC set a $1,050.00 price objective on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, January 15th. Guggenheim boosted their price objective on shares of Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Sanford C. Bernstein started coverage on shares of Equinix in a research note on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 price objective on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,056.35.

Equinix Price Performance

EQIX stock opened at $1,094.34 on Wednesday. The firm has a market cap of $107.93 billion, a price-to-earnings ratio of 79.59, a PEG ratio of 2.81 and a beta of 1.01. 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 $710.52 and a 12-month high of $1,108.19. The company’s fifty day simple moving average is $982.30 and its 200 day simple moving average is $857.25.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. Equinix’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.92 EPS. On average, analysts expect that Equinix, Inc. will post 37.72 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. Investors of record on Wednesday, February 25th were issued a $5.16 dividend. The ex-dividend date was Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a yield of 1.9%. Equinix’s dividend payout ratio (DPR) is presently 150.11%.

Equinix 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.