Equinix, Inc. (NASDAQ:EQIX) Holdings Raised by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,788 shares of the financial services provider’s stock after purchasing an additional 801 shares during the quarter. CIBC Asset Management Inc’s holdings in Equinix were worth $13,943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EQIX. State Street Corp raised its position in Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC raised its position in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares in the last quarter. Principal Financial Group Inc. raised its position in Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after acquiring an additional 44,471 shares in the last quarter. JPMorgan Chase & Co. raised its position in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after acquiring an additional 53,729 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the sale, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. The trade was a 17.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,701 shares of company stock valued at $15,441,464. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 0.3 %

Shares of NASDAQ EQIX opened at $931.04 on Wednesday. The stock has a market cap of $90.62 billion, a price-to-earnings ratio of 83.95, a PEG ratio of 2.23 and a beta of 0.72. The business has a 50 day simple moving average of $934.17 and a 200 day simple moving average of $898.55. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, research analysts predict that Equinix, Inc. will post 31.09 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.01%. Equinix’s payout ratio is presently 219.42%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EQIX shares. Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Royal Bank of Canada lifted their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays lifted their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Citizens Jmp raised Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Truist Financial lifted their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $994.82.

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.