KLP Kapitalforvaltning AS Makes New $31.37 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

KLP Kapitalforvaltning AS acquired a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,268 shares of the financial services provider's stock, valued at approximately $31,368,000.

A number of other hedge funds have also recently made changes to their positions in EQIX. Mizuho Securities USA LLC raised its position in shares of Equinix by 48.5% during the 4th quarter. Mizuho Securities USA LLC now owns 9,145 shares of the financial services provider's stock valued at $8,623,000 after buying an additional 2,988 shares in the last quarter. Summit Global Investments raised its position in Equinix by 69.7% during the fourth quarter. Summit Global Investments now owns 538 shares of the financial services provider's stock valued at $507,000 after purchasing an additional 221 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Equinix in the 4th quarter valued at approximately $120,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Equinix by 39.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,884 shares of the financial services provider's stock worth $48,921,000 after purchasing an additional 14,624 shares during the period. Finally, Berkeley Capital Partners LLC increased its position in shares of Equinix by 2.3% during the 4th quarter. Berkeley Capital Partners LLC now owns 1,278 shares of the financial services provider's stock valued at $1,205,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

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Equinix Stock Down 0.7 %

Shares of NASDAQ EQIX traded down $5.74 during trading hours on Thursday, hitting $825.31. 799,645 shares of the stock were exchanged, compared to its average volume of 515,184. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a fifty day moving average price of $900.10 and a 200-day moving average price of $909.21. 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 company has a market cap of $80.33 billion, a PE ratio of 96.53, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is currently 219.42%.

Analysts Set New Price Targets

A number of research firms recently commented on EQIX. BMO Capital Markets dropped their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Wells Fargo & Company decreased their price target on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lifted 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. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has a consensus rating of "Buy" and a consensus price target of $989.39.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 in the last ninety days. Company insiders own 0.27% of the company's stock.

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.