JPMorgan Chase & Co. Raises Stake in Equinix, Inc. $EQIX

JPMorgan Chase & Co. increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 25.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,875,355 shares of the financial services provider’s stock after buying an additional 588,967 shares during the quarter. JPMorgan Chase & Co.’s holdings in Equinix were worth $2,252,094,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Campbell & CO Investment Adviser LLC raised its holdings in shares of Equinix by 21.1% during the second 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 last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after purchasing an additional 7,409 shares during the last quarter. Chilton Capital Management LLC grew its position 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. Foresight Group Ltd Liability Partnership raised its stake in shares of Equinix by 10.0% during the 3rd 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 last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock valued at $376,193,000 after buying an additional 32,790 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on EQIX. Truist Financial raised their target price on Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Scotiabank reaffirmed an “outperform” rating on shares of Equinix in a research note on Thursday. The Goldman Sachs Group lifted their target price on shares of Equinix from $785.00 to $894.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group increased their price target on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $996.23.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 2,670 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.08, for a total value of $2,146,893.60. Following the transaction, the chief executive officer owned 14,857 shares in the company, valued at $11,946,216.56. This trade represents a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $743,250.06. Following the completion of the sale, the executive vice president directly owned 7,337 shares in the company, valued at $5,882,659.86. This represents a 11.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,353 shares of company stock worth $11,283,043 in the last quarter. 0.27% of the stock is owned by insiders.

Equinix Price Performance

Equinix stock opened at $956.19 on Tuesday. The stock has a market capitalization of $93.95 billion, a P/E ratio of 69.54, a P/E/G ratio of 1.64 and a beta of 1.06. The company’s fifty day moving average price is $797.01 and its 200 day moving average price is $790.66. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the company posted $7.92 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a $5.16 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.2%. This is a boost from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is 136.44%.

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.