Resona Asset Management Co. Ltd. Buys New Position in Equinix, Inc. (NASDAQ:EQIX)

Resona Asset Management Co. Ltd. bought a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 54,010 shares of the financial services provider's stock, valued at approximately $50,917,000. Resona Asset Management Co. Ltd. owned approximately 0.06% of Equinix at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Equinix in the fourth quarter worth about $1,067,270,000. Wellington Management Group LLP lifted its holdings in Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after purchasing an additional 401,991 shares in the last quarter. Raymond James Financial Inc. bought a new position in Equinix in the 4th quarter worth approximately $328,899,000. Proficio Capital Partners LLC purchased a new stake in Equinix during the 4th quarter valued at approximately $246,000. Finally, JPMorgan Chase & Co. raised its position in shares of Equinix by 17.9% during the third 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. Institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several research analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Oppenheimer lifted their target price on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Mizuho dropped their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. Royal Bank of Canada upped their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $1,007.59.

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Insider Buying and Selling at Equinix

In other Equinix news, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares of the company's stock, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred 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 transaction, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company's stock.

Equinix Trading Down 4.7 %

EQIX stock traded down $37.38 during trading on Thursday, hitting $760.05. The company had a trading volume of 241,831 shares, compared to its average volume of 654,037. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a 50 day simple moving average of $868.89 and a 200-day simple moving average of $902.52. The firm has a market capitalization of $73.98 billion, a P/E ratio of 88.89, a PEG ratio of 1.78 and a beta of 0.95. 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 (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.47%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix's dividend 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.