Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Position in Equinix, Inc. $EQIX

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 23.7% during the second quarter, HoldingsChannel.com reports. The fund owned 15,159 shares of the financial services provider’s stock after buying an additional 2,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Equinix were worth $12,059,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EQIX. Activest Wealth Management increased its holdings in Equinix by 121.4% during the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock valued at $25,000 after buying an additional 17 shares during the period. Atticus Wealth Management LLC purchased a new position in Equinix during the second quarter valued at approximately $29,000. GKV Capital Management Co. Inc. purchased a new position in Equinix during the first quarter valued at approximately $30,000. Saudi Central Bank purchased a new position in Equinix during the first quarter valued at approximately $31,000. Finally, Quarry LP purchased a new position in Equinix during the first quarter valued at approximately $31,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 404 shares of Equinix stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $771.11, for a total transaction of $311,528.44. Following the completion of the sale, the executive vice president directly owned 6,378 shares in the company, valued at approximately $4,918,139.58. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 75 shares of Equinix stock in a transaction on Monday, August 18th. The stock was sold at an average price of $781.50, for a total transaction of $58,612.50. Following the sale, the director owned 17,832 shares of the company’s stock, valued at $13,935,708. The trade was a 0.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $816.13 on Wednesday. The firm’s fifty day simple moving average is $793.70 and its two-hundred day simple moving average is $815.73. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The firm has a market capitalization of $79.87 billion, a P/E ratio of 79.93, a P/E/G ratio of 1.46 and a beta of 0.92.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the company earned $9.22 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EQIX. Barclays lifted their price objective on shares of Equinix from $798.00 to $804.00 and gave the company an “equal weight” rating in a report on Wednesday, August 20th. UBS Group cut their price objective on shares of Equinix from $1,035.00 to $950.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a report on Wednesday, October 8th. Zacks Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Wall Street Zen lowered shares of Equinix from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $957.38.

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.