Commerce Bank acquired a new stake in Equinix, Inc. (NASDAQ:EQIX – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,099 shares of the financial services provider’s stock, valued at approximately $3,230,000.
Other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Equinix by 6.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,265 shares of the financial services provider’s stock valued at $40,043,000 after purchasing an additional 3,108 shares during the last quarter. Legal & General Group Plc lifted its holdings in Equinix by 10.5% during the 4th 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 last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Equinix by 5,149.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 128,097 shares of the financial services provider’s stock worth $98,143,000 after purchasing an additional 125,657 shares during the last quarter. Generali Asset Management SPA SGR boosted its stake in Equinix by 17.8% in the 4th quarter. Generali Asset Management SPA SGR now owns 9,772 shares of the financial services provider’s stock valued at $7,487,000 after purchasing an additional 1,478 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Equinix by 3.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 180,884 shares of the financial services provider’s stock valued at $138,586,000 after purchasing an additional 5,991 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.
Equinix Stock Down 1.0%
Shares of EQIX opened at $1,055.20 on Tuesday. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The firm has a 50 day simple moving average of $1,052.48 and a two-hundred day simple moving average of $1,025.76. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $104.12 billion, a P/E ratio of 67.95, a P/E/G ratio of 1.51 and a beta of 0.99.
Equinix Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $5.16 per share. The ex-dividend date is Wednesday, August 19th. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. Equinix’s dividend payout ratio is 132.90%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on EQIX. Barclays increased their price objective on Equinix from $1,109.00 to $1,130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 1st. Evercore restated an “outperform” rating and issued a $1,270.00 price target on shares of Equinix in a research note on Tuesday, August 18th. UBS Group lifted their price objective on shares of Equinix from $1,210.00 to $1,265.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. HSBC reissued a “buy” rating and issued a $1,400.00 price objective on shares of Equinix in a report on Friday, August 14th. Finally, Truist Financial raised their target price on shares of Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average target price of $1,203.40.
Get Our Latest Stock Report on Equinix
Insider Activity
In related news, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total transaction of $4,010,517.36. Following the sale, the insider directly owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher B. Paisley sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,019.28, for a total transaction of $4,077,120.00. Following the transaction, the director directly owned 13,859 shares of the company’s stock, valued at $14,126,201.52. The trade was a 22.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 7,986 shares of company stock worth $8,370,777. Insiders own 0.27% of the company’s stock.
About Equinix
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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