KLP Kapitalforvaltning AS Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

KLP Kapitalforvaltning AS acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 33,268 shares of the financial services provider’s stock, valued at approximately $31,368,000.

Several other institutional investors and hedge funds also recently bought and sold shares of EQIX. Principal Financial Group Inc. boosted its stake in Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares during the period. OneDigital Investment Advisors LLC purchased a new position in Equinix during the third quarter worth $224,000. PNC Financial Services Group Inc. boosted its stake in Equinix by 4.2% during the third quarter. PNC Financial Services Group Inc. now owns 13,168 shares of the financial services provider’s stock worth $11,688,000 after buying an additional 531 shares during the period. Advisors Asset Management Inc. boosted its stake in Equinix by 19.8% during the third quarter. Advisors Asset Management Inc. now owns 4,691 shares of the financial services provider’s stock worth $4,164,000 after buying an additional 774 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in Equinix by 76.5% during the third quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock worth $80,000 after buying an additional 39 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $834.59 on Friday. The business’s 50 day moving average price is $903.56 and its 200 day moving average price is $908.81. The firm has a market cap of $81.23 billion, a P/E ratio of 97.61, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.25%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the sale, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 over the last quarter. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company reduced their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $990.06.

Equinix 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.