Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 151.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280 shares of the financial services provider’s stock after purchasing an additional 770 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Equinix were worth $968,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 buying an additional 238,815 shares during the last quarter. Cohen & Steers Inc. raised its position in Equinix by 0.5% during the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Principal Financial Group Inc. raised its position in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after purchasing an additional 47,795 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Equinix by 1.5% in the second 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 purchasing an additional 19,844 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TD Cowen upped their target price on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Truist Financial increased their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Barclays upped their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock valued at $8,282,119 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock opened at $877.20 on Monday. The business’s fifty day moving average price is $820.42 and its 200 day moving average price is $791.76. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $83.25 billion, a P/E ratio of 87.98, a PEG ratio of 2.11 and a beta of 0.71.

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

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.94%. Equinix’s dividend payout ratio is currently 170.91%.

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.