Bank Pictet & Cie Europe AG Takes $2.03 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Bank Pictet & Cie Europe AG bought a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,150 shares of the financial services provider's stock, valued at approximately $2,027,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider's stock worth $18,099,000 after purchasing an additional 1,716 shares in the last quarter. Brookfield Corp ON increased its position in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider's stock worth $71,685,000 after buying an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider's stock worth $33,215,000 after acquiring an additional 1,103 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after acquiring an additional 404 shares in the last quarter. Finally, Thematics Asset Management boosted its stake in shares of Equinix by 17.7% during the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider's stock valued at $35,462,000 after acquiring an additional 6,000 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares of the company's stock, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,826 shares of company stock worth $15,555,490 over the last 90 days. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several analyst reports. Scotiabank decreased their price target on shares of Equinix from $1,114.00 to $1,033.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. TD Cowen raised their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. BMO Capital Markets cut their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a "buy" rating in a report on Friday, November 29th. Finally, Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $994.82.

Equinix Price Performance

NASDAQ EQIX traded up $7.18 during trading on Wednesday, reaching $939.08. 529,114 shares of the company traded hands, compared to its average volume of 507,929. The stock's 50 day moving average price is $933.56 and its two-hundred day moving average price is $899.43. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $91.40 billion, a price-to-earnings ratio of 109.83, a P/E/G ratio of 2.24 and a beta of 0.72. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, analysts anticipate that Equinix, Inc. will post 33.71 EPS for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio is 199.30%.

Equinix Company 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.