E Fund Management Co. Ltd. Acquires New Shares in Equinix, Inc. (NASDAQ:EQIX)

E Fund Management Co. Ltd. bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 350 shares of the financial services provider’s stock, valued at approximately $265,000.

A number of other large investors have also recently made changes to their positions in the stock. Swedbank AB purchased a new position in Equinix during the first quarter valued at approximately $294,526,000. Principal Financial Group Inc. grew its position in shares of Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares during the period. M&G Plc purchased a new stake in shares of Equinix in the first quarter worth $187,089,000. Finally, Quadrature Capital Ltd bought a new stake in Equinix during the first quarter valued at $145,308,000. 94.94% of the stock is owned by institutional investors.

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen upped their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Barclays lifted their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Truist Financial raised their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Stock Performance

Shares of EQIX stock opened at $870.99 on Friday. The company has a market capitalization of $82.66 billion, a P/E ratio of 87.36, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50 day moving average price of $818.98 and a two-hundred day moving average price of $793.53.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.04 earnings per share. Analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.96%. Equinix’s dividend payout ratio is presently 170.91%.

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.