Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,326,095 shares of the financial services provider’s stock after acquiring an additional 521 shares during the period. Legal & General Group Plc’s holdings in Equinix were worth $1,003,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of 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 purchasing an additional 13,988 shares during the period. Principal Financial Group Inc. grew its position in Equinix by 14.5% in the 2nd 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. Price T Rowe Associates Inc. MD increased its stake in Equinix by 3.6% in the 1st 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 buying an additional 47,795 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after buying an additional 19,844 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

NASDAQ:EQIX opened at $878.98 on Friday. 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 company has a market capitalization of $83.42 billion, a P/E ratio of 88.16, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The firm has a 50-day moving average price of $825.20 and a two-hundred day moving average price of $792.12. Equinix, Inc. has a twelve month low of $677.80 and a twelve month 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 business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business earned $8.04 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EQIX. The Goldman Sachs Group boosted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Finally, Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $891.57.

Insider Activity at Equinix

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

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.