Equinix, Inc. (NASDAQ:EQIX) Stock Holdings Trimmed by Swedbank AB

Swedbank AB cut its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,608 shares of the financial services provider’s stock after selling 20,251 shares during the quarter. Swedbank AB owned 0.35% of Equinix worth $254,678,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Equinix in the 4th quarter worth approximately $1,574,132,000. Vanguard Group Inc. grew its position in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. M&G Plc bought a new position in Equinix in the 1st quarter worth about $187,089,000. Principal Financial Group Inc. increased its position in Equinix by 14.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after acquiring an additional 213,740 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of Equinix during the first quarter valued at $145,308,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Down 0.2 %

Shares of EQIX traded down $1.42 during midday trading on Friday, reaching $828.66. 371,707 shares of the stock were exchanged, compared to its average volume of 564,801. The firm has a 50 day simple moving average of $780.02 and a 200-day simple moving average of $796.82. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The company has a market cap of $78.64 billion, a price-to-earnings ratio of 83.26, a P/E/G ratio of 2.80 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 7.73% and a net margin of 11.32%. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.04 earnings per share. Research analysts forecast that Equinix, Inc. will post 31.23 EPS for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Analyst Ratings Changes

Several equities analysts have commented on EQIX shares. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Barclays lifted their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Royal Bank of Canada reduced their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, TD Cowen lifted their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $877.79.

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.