Capital Research Global Investors Buys 10,947 Shares of Equinix, Inc. $EQIX

Capital Research Global Investors boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 577,518 shares of the financial services provider’s stock after purchasing an additional 10,947 shares during the quarter. Capital Research Global Investors owned about 0.59% of Equinix worth $452,335,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC grew its stake in shares of Equinix by 21.1% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after buying an additional 67 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Equinix by 1.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after acquiring an additional 7,409 shares during the period. JPMorgan Chase & Co. boosted its position in Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after buying an additional 588,967 shares during the period. Chilton Capital Management LLC increased its holdings in Equinix by 5.1% during the 3rd quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock worth $28,908,000 after purchasing an additional 1,805 shares during the period. Finally, Foresight Group Ltd Liability Partnership increased its stake in shares of Equinix by 10.0% during the third quarter. Foresight Group Ltd Liability Partnership now owns 26,139 shares of the financial services provider’s stock valued at $20,425,000 after buying an additional 2,378 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, Chairman Charles J. Meyers sold 2,716 shares of Equinix stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $965.15, for a total value of $2,621,347.40. Following the transaction, the chairman directly owned 12,594 shares in the company, valued at approximately $12,155,099.10. The trade was a 17.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 2,051 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the sale, the chief financial officer owned 26,373 shares of the company’s stock, valued at $21,208,375.41. This trade represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 13,602 shares of company stock worth $11,369,645. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on shares of Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Jefferies Financial Group increased their price objective on Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Citigroup reiterated a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Scotiabank restated an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average target price of $1,006.91.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $956.07 on Wednesday. The stock’s 50-day moving average is $859.41 and its two-hundred day moving average is $810.10. The company has a market cap of $93.94 billion, a price-to-earnings ratio of 69.53, a price-to-earnings-growth ratio of 2.43 and a beta of 1.04. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $992.90. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the company posted $7.92 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. Analysts forecast 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 will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. Equinix’s payout ratio is 150.11%.

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.