Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Axa S.A.

Axa S.A. lessened its position in Equinix, Inc. (NASDAQ:EQIX) by 12.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 230,549 shares of the financial services provider’s stock after selling 32,418 shares during the period. Axa S.A.’s holdings in Equinix were worth $174,433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fred Alger Management LLC grew its stake in shares of Equinix by 105.9% during the 2nd quarter. Fred Alger Management LLC now owns 144,103 shares of the financial services provider’s stock worth $109,028,000 after purchasing an additional 74,124 shares during the period. Zurich Insurance Group Ltd FI raised its position in shares of Equinix by 97.9% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 38,384 shares of the financial services provider’s stock worth $29,041,000 after purchasing an additional 18,992 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Equinix by 61.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 18,177 shares of the financial services provider’s stock worth $13,753,000 after acquiring an additional 6,933 shares during the last quarter. Masterton Capital Management LP purchased a new position in Equinix in the 2nd quarter valued at about $5,145,000. Finally, Bank of Montreal Can boosted its position in Equinix by 8.4% during the second quarter. Bank of Montreal Can now owns 122,549 shares of the financial services provider’s stock worth $93,978,000 after acquiring an additional 9,506 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction 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. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Truist Financial increased their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Mizuho raised their price target 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. Finally, The Goldman Sachs Group initiated coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Equinix Stock Performance

EQIX opened at $887.58 on Wednesday. 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 business’s 50 day moving average is $823.47 and its 200-day moving average is $791.43. The stock has a market cap of $84.27 billion, a PE ratio of 89.03, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix (NASDAQ:EQIX) last announced its 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). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.04 EPS. On average, analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

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.