Generali Asset Management SPA SGR Purchases Shares of 6,439 Equinix, Inc. (NASDAQ:EQIX)

Generali Asset Management SPA SGR bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,439 shares of the financial services provider's stock, valued at approximately $6,071,000.

Several other hedge funds have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. increased its position in shares of Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock worth $7,946,000 after acquiring an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after purchasing an additional 2,560 shares in the last quarter. National Pension Service raised its position in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after purchasing an additional 3,164 shares during the period. Brookfield Corp ON boosted its position in shares of Equinix by 67.3% in 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 during the period. Finally, Empowered Funds LLC grew its stake 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 buying an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

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Insiders Place Their Bets

In related news, EVP Raouf Abdel sold 1,331 shares of the company's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares of the company's stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now 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. In the last 90 days, insiders sold 19,054 shares of company stock worth $17,466,950. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citizens Jmp upgraded Equinix to a "strong-buy" rating in a report on Monday, January 27th. Truist Financial lowered their price target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Scotiabank raised their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Finally, Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $990.06.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded down $17.13 during trading on Friday, hitting $834.59. 1,624,876 shares of the company traded hands, compared to its average volume of 519,804. The stock has a market capitalization of $81.23 billion, a price-to-earnings ratio of 97.61, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a one year low of $684.14 and a one year 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. The business's fifty day moving average is $903.56 and its 200-day moving average is $908.81.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping 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%. As a group, equities analysts predict 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 was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.25%. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix's payout ratio is presently 219.42%.

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.