Nordea Investment Management AB Has $403.37 Million Stock Position in Equinix, Inc. $EQIX

Nordea Investment Management AB increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 526,994 shares of the financial services provider’s stock after acquiring an additional 43,511 shares during the quarter. Nordea Investment Management AB’s holdings in Equinix were worth $403,372,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EQIX. Brighton Jones LLC lifted its stake in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after buying an additional 73 shares during the period. Integrated Wealth Concepts LLC grew its position in Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after buying an additional 54 shares in the last quarter. Empowered Funds LLC grew its position in Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after buying an additional 546 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in Equinix during the second quarter valued at about $231,000. Finally, Cetera Investment Advisers raised its holdings in Equinix by 18.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,294 shares of the financial services provider’s stock valued at $8,984,000 after acquiring an additional 1,798 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 2,051 shares of the stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the completion of the sale, the chief financial officer owned 26,373 shares in the company, valued at $21,208,375.41. This trade represents a 7.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the transaction, the executive vice president directly owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This represents a 11.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,842 shares of company stock valued at $14,494,840. Insiders own 0.27% of the company’s stock.

Equinix Stock Down 1.6%

NASDAQ EQIX opened at $959.16 on Friday. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $992.90. The company has a market capitalization of $94.24 billion, a price-to-earnings ratio of 69.76, a PEG ratio of 2.47 and a beta of 1.04. The stock’s 50 day moving average is $890.78 and its two-hundred day moving average is $820.51. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a return on equity of 9.60% and a net margin of 14.65%.The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $7.92 earnings per share. Equities analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were paid a dividend of $5.16 per share. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, February 25th. Equinix’s dividend payout ratio is currently 150.11%.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research reports. Barclays raised their price objective on Equinix from $870.00 to $1,020.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. The Goldman Sachs Group raised their target price on Equinix from $785.00 to $894.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. HSBC set a $1,050.00 price target on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, January 15th. Finally, UBS Group increased their price objective on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,013.43.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.