Sumitomo Mitsui DS Asset Management Company Ltd Buys 690 Shares of Equinix, Inc. (NASDAQ:EQIX)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 33,944 shares of the financial services provider’s stock after acquiring an additional 690 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Equinix were worth $30,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC bought a new position in shares of Equinix during the 4th quarter worth about $381,000. HighPoint Advisor Group LLC acquired a new stake in Equinix in the fourth quarter valued at approximately $471,000. Los Angeles Capital Management LLC increased its holdings in shares of Equinix by 0.3% during the first quarter. Los Angeles Capital Management LLC now owns 14,199 shares of the financial services provider’s stock valued at $11,719,000 after acquiring an additional 36 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Equinix by 308.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 788 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 595 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of Equinix by 5.1% in the 1st quarter. Wedmont Private Capital now owns 915 shares of the financial services provider’s stock worth $733,000 after purchasing an additional 44 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity at Equinix

In other Equinix news, insider Meredith Williamson sold 576 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Equinix news, insider Michael Earl Campbell sold 600 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $816.73, for a total value of $490,038.00. Following the sale, the insider now directly owns 14,800 shares in the company, valued at $12,087,604. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Up 1.0 %

Shares of EQIX stock opened at $888.85 on Friday. Equinix, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average of $853.82 and a 200-day moving average of $796.87. The firm has a market cap of $84.36 billion, a P/E ratio of 89.15, a PEG ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.04 earnings per share. Sell-side analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Wall Street Analyst Weigh In

Several research firms have weighed in on EQIX. Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. TD Cowen upped their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group boosted their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $914.36.

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.