APG Asset Management US Inc. Cuts Holdings in Equinix, Inc. (NASDAQ:EQIX)

APG Asset Management US Inc. lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,409,452 shares of the financial services provider’s stock after selling 8,500 shares during the quarter. Equinix makes up 6.1% of APG Asset Management US Inc.’s portfolio, making the stock its 3rd biggest holding. APG Asset Management US Inc.’s holdings in Equinix were worth $1,070,732,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EQIX. Gryphon Financial Partners LLC bought a new stake in shares of Equinix during the 4th quarter valued at $581,000. Parallel Advisors LLC boosted its stake in Equinix by 5.0% in the 4th quarter. Parallel Advisors LLC now owns 634 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 30 shares in the last quarter. TD Asset Management Inc boosted its stake in Equinix by 19.2% in the 4th quarter. TD Asset Management Inc now owns 226,123 shares of the financial services provider’s stock worth $182,117,000 after purchasing an additional 36,493 shares in the last quarter. Stifel Financial Corp boosted its stake in Equinix by 3.2% in the 4th quarter. Stifel Financial Corp now owns 77,758 shares of the financial services provider’s stock worth $62,663,000 after purchasing an additional 2,421 shares in the last quarter. Finally, Legacy Advisors LLC boosted its stake in Equinix by 5.7% in the 4th quarter. Legacy Advisors LLC now owns 988 shares of the financial services provider’s stock worth $796,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $890.01 on Thursday. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The firm has a market capitalization of $84.47 billion, a P/E ratio of 89.27, a PEG ratio of 2.15 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average price of $823.47 and a 200-day moving average price of $791.43.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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 for 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 company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $8.04 earnings per share. Equities research analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

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. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.91%. Equinix’s payout ratio is 170.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EQIX shares. Deutsche Bank Aktiengesellschaft upped 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. Truist Financial upped their price target 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 price target 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 research note on Thursday, September 12th. Finally, TD Cowen boosted their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $883.71.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 in the last three months. 0.27% of the stock is owned by company 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.