DnB Asset Management AS Acquires 16,227 Shares of Equinix, Inc. (NASDAQ:EQIX)

DnB Asset Management AS raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 89.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,352 shares of the financial services provider’s stock after buying an additional 16,227 shares during the quarter. DnB Asset Management AS’s holdings in Equinix were worth $32,390,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Inspire Trust Co. N.A. increased its stake in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 11 shares during the period. Rothschild Investment LLC raised its holdings in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after buying an additional 11 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after buying an additional 12 shares during the period. Great Lakes Retirement Inc. boosted its stake in Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after buying an additional 12 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its position in Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 12 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Charles J. Meyers sold 5,788 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. 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. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Down 2.7 %

Shares of EQIX opened at $803.00 on Friday. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The firm’s 50-day simple moving average is $895.96 and its 200 day simple moving average is $908.43. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $78.16 billion, a P/E ratio of 93.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last announced 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%. On average, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.34%. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays increased their price target on Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Truist Financial dropped their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Scotiabank increased their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $1,007.59.

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.