Legal & General Group Plc Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Legal & General Group Plc grew its position in Equinix, Inc. (NASDAQ:EQIX) by 0.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,326,095 shares of the financial services provider’s stock after buying an additional 521 shares during the period. Legal & General Group Plc owned 1.40% of Equinix worth $1,003,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQIX. Vanguard Group Inc. lifted its holdings in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after purchasing an additional 13,988 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 worth $1,428,606,000 after purchasing an additional 238,883 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Equinix by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after buying an additional 19,844 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EQIX. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday. The Goldman Sachs Group lifted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their target price on 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 Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $891.57.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Brandi Galvin Morandi sold 864 shares of Equinix 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 sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 over the last 90 days. 0.27% of the stock is owned by insiders.

Equinix Stock Down 1.2 %

Shares of Equinix stock opened at $878.98 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a market capitalization of $83.42 billion, a P/E ratio of 88.16, a P/E/G ratio of 2.15 and a beta of 0.71. The company has a 50 day moving average of $825.20 and a 200 day moving average of $792.12.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm 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%. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $8.04 earnings per share. As a group, research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) 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.