Skandinaviska Enskilda Banken AB publ Acquires 2,450 Shares of Equinix, Inc. (NASDAQ:EQIX)

Skandinaviska Enskilda Banken AB publ raised its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 12.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,782 shares of the financial services provider's stock after buying an additional 2,450 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Equinix were worth $20,379,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. 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 bought a new stake in shares of Equinix in the 4th quarter worth approximately $39,000. Sierra Ocean LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC lifted its position in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after acquiring an additional 25 shares during the period. Finally, Thompson Investment Management Inc. bought a new stake in shares of Equinix in the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

EQIX traded down $15.99 during trading on Tuesday, hitting $841.26. The company's stock had a trading volume of 691,895 shares, compared to its average volume of 594,291. The firm's 50 day moving average price is $910.74 and its two-hundred day moving average price is $909.00. The stock has a market capitalization of $81.88 billion, a price-to-earnings ratio of 98.39, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Remove Ads

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS 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%. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is 219.42%.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 684 shares of Equinix 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 sale, the insider now directly owns 8,377 shares of the company's stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 3,184 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the sale, the chief financial officer now directly owns 22,076 shares of the company's stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial reduced 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. Citizens Jmp upgraded Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Scotiabank raised their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets cut their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $989.35.

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.