Equinix, Inc. $EQIX Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.1% in the third quarter, Holdings Channel.com reports. The fund owned 21,563 shares of the financial services provider’s stock after acquiring an additional 854 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Equinix were worth $16,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. increased its position in shares of Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Equinix during the 2nd quarter worth $26,000. Bank of Jackson Hole Trust grew its holdings in shares of Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Abound Wealth Management raised its position in shares of 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 buying an additional 23 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Equinix in the second quarter valued at about $28,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.17, for a total value of $1,649,352.67. Following the transaction, the chief financial officer directly owned 26,373 shares in the company, valued at approximately $21,208,375.41. This represents a 7.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 1,333 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the sale, the insider directly owned 9,551 shares in the company, valued at $7,681,391.75. This represents a 12.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,590 shares of company stock valued at $15,366,046 over the last three months. Company insiders own 0.27% of the company’s stock.

Equinix Trading Down 0.6%

Shares of Equinix stock opened at $820.93 on Friday. The stock has a 50 day moving average of $769.84 and a 200 day moving average of $784.68. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $80.61 billion, a price-to-earnings ratio of 75.18, a PEG ratio of 1.29 and a beta of 1.05. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating the consensus estimate of $9.27 by $0.56. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.05 EPS. As a group, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley started coverage on shares of Equinix in a research report on Thursday, October 16th. They set an “overweight” rating and a $950.00 price target on the stock. Deutsche Bank Aktiengesellschaft set a $915.00 target price on shares of Equinix in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upped their price target on Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, Citigroup restated a “buy” rating on shares of Equinix in a report on Thursday, December 11th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $959.64.

Equinix Company Profile

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.