Krane Funds Advisors LLC Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Krane Funds Advisors LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 345 shares of the financial services provider’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CNB Bank grew its stake in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in Equinix during the 1st quarter valued at approximately $31,000. Meeder Asset Management Inc. bought a new position in Equinix during the 2nd quarter worth approximately $36,000. Finally, Rise Advisors LLC acquired a new position in shares of Equinix in the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on EQIX. TD Cowen boosted their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Truist Financial upped their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company upgraded 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 report on Tuesday, July 23rd. Mizuho increased their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Royal Bank of Canada lowered their price objective 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. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Price Performance

EQIX opened at $871.54 on Friday. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The firm has a 50-day moving average of $811.47 and a 200 day moving average of $794.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $82.74 billion, a P/E ratio of 87.42, a PEG ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its quarterly 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 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 analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business earned $8.04 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts expect that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insiders Place Their Bets

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Equinix news, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 over the last quarter. 0.27% of the stock is currently owned by company insiders.

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.