Equinix, Inc. (NASDAQ:EQIX) is APG Asset Management US Inc.’s 3rd Largest Position

APG Asset Management US Inc. lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,409,452 shares of the financial services provider’s stock after selling 8,500 shares during the period. Equinix comprises about 6.1% of APG Asset Management US Inc.’s holdings, making the stock its 3rd biggest position. APG Asset Management US Inc. owned about 1.49% of Equinix worth $1,070,732,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. CNB Bank boosted its position in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the period. LRI Investments LLC bought a new position in Equinix during the first quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix during the second quarter worth about $30,000. Rise Advisors LLC bought a new position in Equinix during the first quarter worth about $39,000. Finally, Meeder Asset Management Inc. bought a new position in Equinix during the second quarter worth about $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective for the company. TD Cowen raised their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Mizuho raised their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Buying and Selling

In related news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction 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 completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock valued at $8,282,119 over the last three months. 0.27% of the stock is owned by company insiders.

Equinix Trading Up 0.3 %

EQIX stock opened at $890.01 on Thursday. The company has a market capitalization of $84.47 billion, a PE ratio of 89.27, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The company’s 50 day moving average price is $823.47 and its two-hundred day moving average price is $791.43. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

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 the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $8.04 earnings per share. As a group, analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, August 21st. Equinix’s payout ratio is 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.