BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 95.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 49,697 shares of the financial services provider’s stock after purchasing an additional 24,307 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.05% of Equinix worth $37,601,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Goelzer Investment Management Inc. grew its position in shares of Equinix by 0.3% in the 4th quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after buying an additional 13 shares during the last quarter. Cypress Capital Group grew its position in shares of Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after buying an additional 13 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Equinix by 3.0% in the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after buying an additional 14 shares during the last quarter. Banco Santander S.A. grew its position in shares of Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after buying an additional 14 shares during the last quarter. Finally, Ieq Capital LLC grew its position in shares of Equinix by 0.5% in the 4th quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider’s stock worth $2,354,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EQIX shares. TD Cowen lifted their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Truist Financial lifted their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group started coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 target price for the company. Royal Bank of Canada lowered their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $876.71.

Equinix Stock Performance

EQIX opened at $834.36 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a fifty day moving average price of $791.59 and a 200 day moving average price of $795.42. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The stock has a market cap of $79.19 billion, a P/E ratio of 83.69, a P/E/G ratio of 2.80 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 11.32% and a return on equity of 7.73%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the firm earned $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Equinix, Inc. will post 31.23 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s payout ratio is presently 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.