Zions Bancorporation N.A. Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Zions Bancorporation N.A. grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,000 shares of the financial services provider’s stock after buying an additional 908 shares during the period. Zions Bancorporation N.A.’s holdings in Equinix were worth $5,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Vanguard Group Inc. boosted its holdings in Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after acquiring an additional 88,654 shares in the last quarter. State Street Corp lifted its position in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC boosted its stake in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after buying an additional 44,471 shares during the period. Finally, JPMorgan Chase & Co. raised its stake 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 buying an additional 203,656 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Scotiabank lifted their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Truist Financial reduced their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $990.06.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 341 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. The trade was a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,054 shares of company stock worth $17,466,950. Company insiders own 0.27% of the company’s stock.

Equinix Stock Up 2.1 %

Shares of Equinix stock opened at $852.44 on Tuesday. The company has a 50-day simple moving average of $902.62 and a two-hundred day simple moving average of $909.60. 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 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $82.97 billion, a PE ratio of 99.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last issued its 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 6.31% and a net margin of 9.32%. On average, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. 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 2.20%. Equinix’s payout ratio is 219.42%.

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.