Nissay Asset Management Corp Japan ADV Increases Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Nissay Asset Management Corp Japan ADV grew its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,108 shares of the financial services provider’s stock after buying an additional 689 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Equinix were worth $23,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Equinix in the 4th quarter worth approximately $1,067,270,000. Northern Trust Corp grew its position in Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock worth $1,399,042,000 after purchasing an additional 586,034 shares during the period. Wellington Management Group LLP increased its position in Equinix by 28.7% during the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Equinix during the fourth quarter valued at $328,899,000. Finally, Proficio Capital Partners LLC purchased a new stake in Equinix during the fourth quarter valued at $246,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EQIX shares. Barclays upped their price objective on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. 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 note on Thursday, February 13th. Cowen reiterated a “buy” rating on shares of Equinix in a research note on Thursday, May 1st. Truist Financial cut their price target on Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a report on Monday. Finally, New Street Research upgraded Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $1,004.89.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kurt Pletcher sold 215 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the transaction, the insider now owns 1,245 shares in the company, valued at $1,157,513.85. The trade was a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,167 shares of company stock valued at $6,658,536. 0.27% of the stock is currently owned by insiders.

Equinix Trading Down 0.2%

Shares of EQIX opened at $868.79 on Wednesday. Equinix, Inc. has a 52-week low of $701.41 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. The firm’s fifty day moving average is $823.94 and its two-hundred day moving average is $893.62. The stock has a market cap of $84.98 billion, a PE ratio of 101.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company earned $8.86 EPS. Equinix’s revenue was up 4.1% compared to the same quarter last year. Research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be issued a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 annualized dividend and a dividend yield of 2.16%. Equinix’s dividend payout ratio is presently 195.01%.

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.