BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 6,933 Shares of Equinix, Inc. (NASDAQ:EQIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 61.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,177 shares of the financial services provider’s stock after buying an additional 6,933 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Equinix were worth $13,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. CNB Bank raised its holdings in shares of Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares during the period. LRI Investments LLC bought a new stake in Equinix in the first quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $30,000. Rise Advisors LLC acquired a new stake in Equinix during the first quarter worth approximately $39,000. Finally, Meeder Asset Management Inc. bought a new position in Equinix during the 2nd quarter worth $36,000. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on EQIX shares. Truist Financial upped their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group initiated coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. TD Cowen lifted their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $883.71.

Equinix Trading Up 0.6 %

Shares of EQIX stock opened at $887.58 on Wednesday. The company’s fifty day simple moving average is $823.47 and its two-hundred day simple moving average is $791.43. The stock has a market capitalization of $84.24 billion, a price-to-earnings ratio of 89.03, a PEG 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 1 year low of $677.80 and a 1 year high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company posted $8.04 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Insider Activity

In other news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by insiders.

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.