Generali Asset Management SPA SGR Invests $6.07 Million in Equinix, Inc. (NASDAQ:EQIX)

Generali Asset Management SPA SGR purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,439 shares of the financial services provider’s stock, valued at approximately $6,071,000.

Several other institutional investors also recently modified their holdings of EQIX. Oppenheimer & Co. Inc. grew its holdings in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after purchasing an additional 3,212 shares during the period. Bank of New York Mellon Corp grew its holdings in Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after purchasing an additional 2,560 shares during the period. National Pension Service grew its holdings in Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after purchasing an additional 3,164 shares during the period. Brookfield Corp ON lifted its stake in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus boosted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Truist Financial cut their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. BMO Capital Markets dropped their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank upped their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $989.35.

Equinix Price Performance

NASDAQ:EQIX opened at $841.26 on Wednesday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a market cap of $81.88 billion, a P/E ratio of 98.39, a P/E/G ratio of 1.78 and a beta of 0.74. The firm’s fifty day moving average price is $908.77 and its two-hundred day moving average price is $909.04. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX) last released 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 net margin of 9.32% and a return on equity of 6.31%. Equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm 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. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.23%. Equinix’s dividend payout ratio is 219.42%.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the sale, the chief financial officer now directly owns 22,076 shares in the company, valued at $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company’s stock.

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.