ING Groep NV Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

ING Groep NV boosted its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 358.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,698 shares of the financial services provider's stock after buying an additional 9,927 shares during the quarter. ING Groep NV's holdings in Equinix were worth $11,271,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Banco Santander S.A. grew its stake in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider's stock valued at $577,000 after purchasing an additional 14 shares during the period. M&G Plc purchased a new stake in Equinix during the first quarter valued at about $187,089,000. Centersquare Investment Management LLC raised its holdings in Equinix by 13.5% during the 1st quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider's stock valued at $778,332,000 after acquiring an additional 112,194 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in Equinix by 3.1% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 632 shares of the financial services provider's stock valued at $521,000 after buying an additional 19 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Equinix by 151.0% during the 1st quarter. Intech Investment Management LLC now owns 1,634 shares of the financial services provider's stock worth $1,349,000 after acquiring an additional 983 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Down 0.1 %

Shares of Equinix stock traded down $0.75 during trading on Friday, reaching $897.37. 368,698 shares of the stock were exchanged, compared to its average volume of 526,622. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $86.59 billion, a price-to-earnings ratio of 80.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.71. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The stock's fifty day moving average is $883.98 and its 200 day moving average is $815.75.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. Equinix's dividend payout ratio is currently 153.65%.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent analyst reports. Hsbc Global Res upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 4th. TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Truist Financial raised their target price on shares of Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Barclays raised their price objective on shares of Equinix from $671.00 to $810.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $944.63.

Insider Activity

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now directly owns 4,893 shares of the company's stock, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company's stock, valued at $7,729,900. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,654 shares of company stock valued at $11,577,656. Company 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.