Swiss Life Asset Management Ltd Boosts Stock Holdings in Equinix, Inc. $EQIX

by · The Markets Daily

Swiss Life Asset Management Ltd lifted its stake in Equinix, Inc. (NASDAQ:EQIXFree Report) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,073 shares of the financial services provider’s stock after purchasing an additional 893 shares during the period. Swiss Life Asset Management Ltd’s holdings in Equinix were worth $14,155,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EQIX. Ameriflex Group Inc. increased its stake in shares of Equinix by 433.3% during the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares during the period. Abound Wealth Management raised its holdings in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in Equinix in the third quarter worth approximately $37,000. Cornerstone Planning Group LLC grew its holdings in Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 13 shares in the last quarter. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in shares of Equinix in the 2nd quarter valued at $39,000. 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 16,842 shares of company stock worth $14,494,840. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $974.76 on Friday. 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, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90. The company has a market capitalization of $95.78 billion, a PE ratio of 70.89, a P/E/G ratio of 2.50 and a beta of 1.04. The company has a fifty day moving average of $887.60 and a two-hundred day moving average of $818.97.

Equinix (NASDAQ:EQIXGet Free Report) last posted its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $7.92 earnings per share. As a group, analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th were given a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date was Wednesday, February 25th. Equinix’s payout ratio is 150.11%.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Equinix from $785.00 to $894.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Sanford C. Bernstein assumed coverage on Equinix in a report on Thursday, March 5th. They set an “outperform” rating and a $1,128.00 price target for the company. Barclays upped 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. Wells Fargo & Company raised their target price on Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, BMO Capital Markets boosted their target price on Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $1,013.43.

Check Out Our Latest Analysis on Equinix

About Equinix

(Free Report)

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.

See Also

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