Assenagon Asset Management S.A. Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Assenagon Asset Management S.A. lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,391 shares of the financial services provider’s stock after buying an additional 357 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Equinix were worth $3,010,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Yoder Wealth Management Inc. purchased a new stake in shares of Equinix during the 3rd quarter worth approximately $220,000. CENTRAL TRUST Co lifted its position in shares of Equinix by 396.0% during the 3rd quarter. CENTRAL TRUST Co now owns 1,002 shares of the financial services provider’s stock worth $889,000 after buying an additional 800 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Equinix by 36.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,336 shares of the financial services provider’s stock worth $1,186,000 after buying an additional 355 shares during the last quarter. Great Lakes Retirement Inc. purchased a new stake in shares of Equinix during the 3rd quarter worth approximately $854,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Equinix during the 3rd quarter worth approximately $67,700,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’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 completion of the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,906 shares of company stock valued at $9,071,764 in the last ninety days. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Performance

Shares of EQIX opened at $910.22 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The stock has a market capitalization of $86.39 billion, a P/E ratio of 91.30, a P/E/G ratio of 2.11 and a beta of 0.71. The company’s fifty day moving average is $866.57 and its two-hundred day moving average is $804.08.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Analysts Set New Price Targets

Several research firms recently commented on EQIX. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Evercore ISI upped their price target on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen upped their price target on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $927.67.

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.