CANADA LIFE ASSURANCE Co Increases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

CANADA LIFE ASSURANCE Co increased its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,600 shares of the financial services provider's stock after acquiring an additional 20,293 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.23% of Equinix worth $208,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Kestra Investment Management LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in shares of Equinix during the 4th quarter valued at $39,000. Sierra Ocean LLC bought a new position in shares of Equinix during the 4th quarter worth $42,000. Thompson Investment Management Inc. bought a new position in shares of Equinix during the 4th quarter worth $47,000. Finally, Key Financial Inc increased its holdings in Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after acquiring an additional 14 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EQIX shares. Oppenheimer increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. JMP Securities restated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price target on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $1,005.50.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the transaction, the insider now directly owns 1,245 shares of the company's stock, valued at approximately $1,157,513.85. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, 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. Over the last 90 days, insiders sold 7,040 shares of company stock worth $6,547,068. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

Shares of EQIX traded up $11.48 during midday trading on Friday, reaching $790.15. The stock had a trading volume of 479,695 shares, compared to its average volume of 553,477. The company has a market capitalization of $77.29 billion, a price-to-earnings ratio of 92.42, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company's 50-day moving average is $847.77 and its 200 day moving average is $897.53. 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 (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results 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 net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.37%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is presently 219.42%.

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.