APG Asset Management N.V. Takes Position in Equinix, Inc. (NASDAQ:EQIX)

APG Asset Management N.V. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 64,863 shares of the financial services provider's stock, valued at approximately $59,062,000. APG Asset Management N.V. owned approximately 0.07% of Equinix as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EQIX. Inspire Trust Co. N.A. increased its position in shares of Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 11 shares in the last quarter. Rothschild Investment LLC lifted its stake in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock valued at $543,000 after purchasing an additional 11 shares during the period. Ritholtz Wealth Management boosted its holdings in Equinix by 1.8% during the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock worth $633,000 after buying an additional 12 shares during the last quarter. Great Lakes Retirement Inc. grew its holdings in Equinix by 1.2% during the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock valued at $920,000 after purchasing an additional 12 shares during the period. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock valued at $713,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

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Insider Activity

In other Equinix news, CEO Adaire Fox-Martin sold 1,370 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares of the company's stock, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 over the last three months. Corporate insiders own 0.27% of the company's stock.

Equinix Price Performance

Equinix stock traded up $6.09 during midday trading on Friday, reaching $776.83. The company's stock had a trading volume of 513,907 shares, compared to its average volume of 554,648. The stock has a market cap of $75.61 billion, a PE ratio of 90.86, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The business has a 50-day moving average price of $863.06 and a 200-day moving average price of $900.92.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on EQIX shares. Wells Fargo & Company lowered their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Truist Financial cut their price objective on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Finally, BMO Capital Markets reduced their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $1,007.59.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.