DnB Asset Management AS Has $32.39 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

DnB Asset Management AS boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 89.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,352 shares of the financial services provider’s stock after acquiring an additional 16,227 shares during the quarter. DnB Asset Management AS’s holdings in Equinix were worth $32,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Level Four Advisory Services LLC grew its holdings in shares of Equinix by 4.0% during the 4th quarter. Level Four Advisory Services LLC now owns 524 shares of the financial services provider’s stock valued at $494,000 after purchasing an additional 20 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Equinix by 8.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 159,718 shares of the financial services provider’s stock valued at $150,597,000 after purchasing an additional 11,949 shares during the period. Boussard & Gavaudan Investment Management LLP acquired a new stake in Equinix in the fourth quarter worth $5,422,000. Duff & Phelps Investment Management Co. increased its holdings in shares of Equinix by 0.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 428,291 shares of the financial services provider’s stock valued at $403,831,000 after acquiring an additional 3,756 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Equinix in the 4th quarter valued at about $18,727,000. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of several research analyst reports. Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Scotiabank raised their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Truist Financial decreased their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Royal Bank of Canada increased their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Mizuho cut their price target on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated 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 owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

Equinix Stock Down 2.7 %

EQIX opened at $803.00 on Friday. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm’s 50 day simple moving average is $895.96 and its two-hundred day simple moving average is $908.43. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $78.16 billion, a PE ratio of 93.92, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.34%. The ex-dividend date was Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

About Equinix

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.