Equinix, Inc. $EQIX is APG Asset Management US Inc.’s 3rd Largest Position

APG Asset Management US Inc. boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,211,357 shares of the financial services provider’s stock after buying an additional 5,109 shares during the period. Equinix makes up approximately 6.9% of APG Asset Management US Inc.’s portfolio, making the stock its 3rd biggest position. APG Asset Management US Inc. owned about 1.23% of Equinix worth $937,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Equinix by 1.2% during the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock worth $10,410,575,000 after buying an additional 162,638 shares in the last quarter. State Street Corp increased its position in shares of Equinix by 3.7% during the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after purchasing an additional 220,981 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after acquiring an additional 588,967 shares during the period. Principal Financial Group Inc. increased its stake in Equinix by 3.0% in the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after purchasing an additional 56,592 shares during the period. Finally, Norges Bank acquired a new stake in Equinix during the 2nd quarter worth approximately $892,431,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $974.26 on Friday. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $992.90. The firm has a market capitalization of $95.72 billion, a PE ratio of 70.86, a P/E/G ratio of 2.50 and a beta of 1.06. The firm has a 50-day moving average price of $832.07 and a 200 day moving average price of $801.08. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $7.92 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be issued a $5.16 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, February 25th. Equinix’s dividend payout ratio is currently 150.11%.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 2,051 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.17, for a total value of $1,649,352.67. Following the completion of the sale, the chief financial officer owned 26,373 shares of the company’s stock, valued at $21,208,375.41. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the transaction, the executive vice president owned 7,337 shares in the company, valued at $5,882,659.86. This trade represents a 11.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,353 shares of company stock worth $11,283,043 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EQIX shares. Scotiabank reaffirmed an “outperform” rating on shares of Equinix in a report on Thursday, February 12th. Truist Financial boosted their price objective on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Wall Street Zen cut Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research report on Thursday, January 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $1,075.00 price target on shares of Equinix in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,001.41.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.