Assenagon Asset Management S.A. Buys 507 Shares of Equinix, Inc. (NASDAQ:EQIX)

Assenagon Asset Management S.A. grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 15.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,867 shares of the financial services provider’s stock after buying an additional 507 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Equinix were worth $3,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sarasin & Partners LLP bought a new position in shares of Equinix during the first quarter valued at about $8,692,000. Cardinal Capital Management Inc. grew its stake in shares of Equinix by 1.8% in the first quarter. Cardinal Capital Management Inc. now owns 17,130 shares of the financial services provider’s stock worth $13,967,000 after purchasing an additional 302 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Equinix by 19.7% in the first quarter. Harbor Capital Advisors Inc. now owns 2,251 shares of the financial services provider’s stock worth $1,835,000 after purchasing an additional 371 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Equinix by 5.5% in the first quarter. Farther Finance Advisors LLC now owns 767 shares of the financial services provider’s stock worth $626,000 after purchasing an additional 40 shares during the last quarter. Finally, Courier Capital LLC grew its stake in shares of Equinix by 9.3% in the first quarter. Courier Capital LLC now owns 2,825 shares of the financial services provider’s stock worth $2,304,000 after purchasing an additional 240 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 127 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the sale, the chief executive officer now directly owns 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. The trade was a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $892.64 on Monday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The firm has a market cap of $87.32 billion, a P/E ratio of 104.40, a PEG ratio of 1.78 and a beta of 0.97. The company has a 50 day moving average of $851.86 and a 200 day moving average of $887.80. 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) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business earned $8.86 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Analysts Set New Price Targets

Several analysts recently issued reports on EQIX shares. Barclays raised their target price on Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 27th. Stifel Nicolaus raised their target price on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Wolfe Research cut Equinix from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Citigroup raised their target price on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Finally, Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $1,004.80.

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.