Norges Bank purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,284,790 shares of the financial services provider’s stock, valued at approximately $984,355,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Equinix by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,398,906 shares of the financial services provider’s stock worth $10,265,706,000 after purchasing an additional 107,227 shares during the period. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 588,967 shares during the period. Geode Capital Management LLC grew its holdings in Equinix by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,567,830 shares of the financial services provider’s stock worth $1,959,731,000 after purchasing an additional 25,383 shares during the period. Principal Financial Group Inc. grew its holdings in Equinix by 3.0% during the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock worth $1,542,595,000 after purchasing an additional 56,592 shares during the period. Finally, Legal & General Group Plc grew its holdings in Equinix by 10.5% during the fourth quarter. Legal & General Group Plc now owns 1,235,674 shares of the financial services provider’s stock worth $946,724,000 after purchasing an additional 117,101 shares during the period. Institutional investors own 94.94% of the company’s stock.
Equinix Trading Down 0.1%
Shares of NASDAQ:EQIX opened at $1,068.04 on Friday. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,128.68. The stock has a market cap of $105.33 billion, a PE ratio of 73.91, a P/E/G ratio of 2.01 and a beta of 1.01. The business has a 50 day moving average of $1,047.60 and a 200-day moving average of $904.25. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.
Equinix Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be paid a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix’s payout ratio is 142.84%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on EQIX. Mizuho boosted their price objective on Equinix from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. BMO Capital Markets boosted their price objective on Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Sanford C. Bernstein began coverage on Equinix in a report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price objective for the company. Morgan Stanley boosted their price objective on Equinix from $1,075.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company boosted their price objective on Equinix from $975.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average target price of $1,143.60.
View Our Latest Stock Report on EQIX
Insiders Place Their Bets
In related news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total value of $132,536.25. Following the completion of the sale, the director directly owned 17,557 shares in the company, valued at approximately $18,615,511.53. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 424 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $1,020.00, for a total value of $432,480.00. Following the completion of the sale, the insider owned 9,970 shares of the company’s stock, valued at approximately $10,169,400. This trade represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,769 shares of company stock valued at $14,191,079 in the last quarter. Company insiders own 0.27% of the company’s stock.
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.
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