Canada Pension Plan Investment Board Has $665.81 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Canada Pension Plan Investment Board boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 879,999 shares of the financial services provider’s stock after purchasing an additional 59,343 shares during the period. Canada Pension Plan Investment Board owned 0.93% of Equinix worth $665,807,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of Equinix in the first quarter valued at $294,526,000. Principal Financial Group Inc. lifted its position in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after buying an additional 238,883 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after acquiring an additional 238,815 shares during the period. M&G Plc acquired a new position in shares of Equinix during the 1st quarter worth approximately $187,089,000. Finally, Quadrature Capital Ltd bought a new stake in Equinix in the 1st quarter valued at $145,308,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on EQIX. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Truist Financial raised their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Barclays upped 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. Royal Bank of Canada dropped their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Finally, The Goldman Sachs Group started coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Equinix Stock Performance

Shares of Equinix stock opened at $870.99 on Friday. The company’s 50 day moving average price is $818.98 and its two-hundred day moving average price is $793.53. The firm has a market capitalization of $82.66 billion, a P/E ratio of 87.36, a P/E/G ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $8.04 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Equinix Company 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.