Nordea Investment Management AB Increases Stock Position in Equinix, Inc. $EQIX

Nordea Investment Management AB raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.3% during the 3rd quarter, Holdings Channel reports. The fund owned 483,483 shares of the financial services provider’s stock after purchasing an additional 32,790 shares during the period. Nordea Investment Management AB’s holdings in Equinix were worth $376,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC grew its position in Equinix by 21.1% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 67 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Equinix by 1.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock worth $426,444,000 after acquiring an additional 7,409 shares in the last quarter. Gradient Investments LLC raised its position in shares of Equinix by 19.4% during the 2nd quarter. Gradient Investments LLC now owns 24,684 shares of the financial services provider’s stock worth $19,635,000 after purchasing an additional 4,015 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Equinix by 19.4% during the first quarter. Focus Partners Wealth now owns 2,573 shares of the financial services provider’s stock valued at $2,098,000 after acquiring an additional 418 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in Equinix by 13.5% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock valued at $386,231,000 after purchasing an additional 57,630 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $783.86 on Tuesday. The stock’s 50 day moving average is $768.05 and its two-hundred day moving average is $782.23. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $953.41. The firm has a market capitalization of $76.97 billion, a PE ratio of 71.78, a P/E/G ratio of 1.25 and a beta of 1.05. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.05 earnings per share. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $18.76 annualized dividend and a yield of 2.4%. Equinix’s dividend payout ratio (DPR) is presently 171.79%.

Insider Activity

In related news, EVP Raouf Abdel sold 159 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total transaction of $116,259.21. Following the sale, the executive vice president owned 6,584 shares in the company, valued at approximately $4,814,154.96. This trade represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 50 shares of Equinix stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $777.58, for a total transaction of $38,879.00. Following the completion of the sale, the director directly owned 17,782 shares of the company’s stock, valued at $13,826,927.56. The trade was a 0.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,704 shares of company stock worth $6,617,748 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on EQIX shares. Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equinix in a research note on Wednesday, October 8th. Morgan Stanley began coverage on shares of Equinix in a research report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 price target for the company. Daiwa Capital Markets set a $917.00 price objective on Equinix and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, The Goldman Sachs Group lowered Equinix from a “buy” rating to a “neutral” rating and set a $795.00 target price on the stock. in a report on Thursday, December 18th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $952.05.

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.