Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Truist Financial Corp

Truist Financial Corp raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,320 shares of the financial services provider's stock after acquiring an additional 2,990 shares during the quarter. Truist Financial Corp owned approximately 0.05% of Equinix worth $45,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in shares of Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider's stock worth $18,099,000 after purchasing an additional 1,716 shares during the period. Brookfield Corp ON boosted its stake in shares of Equinix by 67.3% during the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider's stock worth $71,685,000 after acquiring an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB grew its position in shares of Equinix by 3.0% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider's stock valued at $33,215,000 after acquiring an additional 1,103 shares during the period. Empowered Funds LLC increased its stake in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after purchasing an additional 404 shares in the last quarter. Finally, Thematics Asset Management raised its holdings in Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider's stock worth $35,462,000 after purchasing an additional 6,000 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQIX. JMP Securities reissued a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Barclays lifted their price target on shares of Equinix from $810.00 to $822.00 and gave the company an "equal weight" rating in a research note on Monday, November 18th. BMO Capital Markets reduced their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Oppenheimer upped their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Equinix currently has a consensus rating of "Buy" and an average price target of $994.82.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now directly owns 15,233 shares in the company, valued at $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the sale, the insider now owns 1,015 shares in the company, valued at approximately $976,633. This trade represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,057 shares of company stock valued at $21,345,223. Company insiders own 0.27% of the company's stock.

Equinix Trading Down 2.2 %

Shares of EQIX traded down $20.57 during mid-day trading on Friday, reaching $919.68. The stock had a trading volume of 664,034 shares, compared to its average volume of 505,680. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a market cap 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 business's fifty day moving average is $932.17 and its 200 day moving average is $899.99. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

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%. On average, sell-side analysts predict that Equinix, Inc. will post 33.1 EPS 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 issued a $4.69 dividend. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix's payout ratio is 199.30%.

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.