Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Equinix, Inc. (NASDAQ:EQIX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 20.7% in the 4th quarter, Holdings Channel reports. The firm owned 99,489 shares of the financial services provider’s stock after purchasing an additional 17,084 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equinix were worth $93,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQIX. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the fourth quarter valued at about $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix in the fourth quarter valued at about $42,000. Dunhill Financial LLC raised its position in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in Equinix during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 2,454 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the sale, the chief financial officer now owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by company insiders.

Equinix Price Performance

Equinix stock opened at $859.52 on Monday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The firm has a 50 day moving average price of $923.05 and a 200 day moving average price of $908.05. The company has a market cap of $83.66 billion, a price-to-earnings ratio of 100.53, a PEG ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.18%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Oppenheimer lifted their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Barclays lifted their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, JMP Securities restated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix currently has an average rating of “Buy” and an average target price of $995.24.

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.