Handelsbanken Fonder AB Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Handelsbanken Fonder AB raised its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,370 shares of the financial services provider's stock after purchasing an additional 4,626 shares during the period. Handelsbanken Fonder AB's holdings in Equinix were worth $42,779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. State Street Corp increased its position in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock valued at $5,171,405,000 after purchasing an additional 81,941 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider's stock valued at $2,079,591,000 after buying an additional 33,277 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after buying an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider's stock worth $1,006,724,000 after buying an additional 53,729 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on EQIX. Citizens Jmp raised Equinix to a "strong-buy" rating in a report on Monday, January 27th. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. Truist Financial raised their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a research report on Friday, November 29th. TD Cowen raised their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, JMP Securities restated a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $994.82.

Equinix Price Performance

Shares of Equinix stock traded down $20.57 during trading on Friday, hitting $919.68. 664,034 shares of the company were exchanged, compared to its average volume of 505,680. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market capitalization of $89.51 billion, a price-to-earnings ratio of 107.56, a P/E/G ratio of 1.78 and a beta of 0.72. The firm has a 50 day moving average price of $932.17 and a 200 day moving average price of $899.99.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) 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%. On average, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, February 26th. Equinix's payout ratio is currently 199.30%.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company's stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,741 shares of company stock worth $21,988,532 in the last ninety days. Insiders own 0.27% of the company's stock.

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.