Union Bancaire Privee UBP SA Acquires 6,665 Shares of Equinix, Inc. $EQIX

Union Bancaire Privee UBP SA increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 98.6% during the 4th quarter, Holdings Channel reports. The firm owned 13,425 shares of the financial services provider’s stock after purchasing an additional 6,665 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Equinix were worth $10,286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQIX. Norges Bank purchased a new stake in shares of Equinix during the 2nd quarter valued at $892,431,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Equinix by 408.1% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after purchasing an additional 953,001 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Equinix by 25.8% during 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 in the last quarter. State Street Corp lifted its position in Equinix by 3.7% in the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after buying an additional 220,981 shares during the last quarter. Finally, ABN AMRO Bank N.V. bought a new position in Equinix during the second quarter valued at approximately $172,581,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 1,333 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.25, for a total value of $1,072,065.25. Following the completion of the transaction, the insider owned 9,551 shares in the company, valued at $7,681,391.75. This trade represents a 12.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 2,716 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total value of $2,621,347.40. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,842 shares of company stock worth $14,494,840. 0.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a report on Thursday, January 22nd. UBS Group boosted their price target on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,075.00 price objective on shares of Equinix in a research note on Friday, February 13th. Barclays boosted their target price on Equinix from $870.00 to $1,020.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Wall Street Zen lowered Equinix from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,013.43.

Equinix Price Performance

Shares of EQIX stock opened at $974.76 on Friday. 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 fifty-two week low of $701.41 and a fifty-two week high of $992.90. The firm has a market cap of $95.78 billion, a P/E ratio of 70.89, a P/E/G ratio of 2.50 and a beta of 1.04. The business’s 50 day moving average price is $887.60 and its 200-day moving average price is $818.97.

Equinix (NASDAQ:EQIX) last released its quarterly 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). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm earned $7.92 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were issued a dividend of $5.16 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. Equinix’s dividend payout ratio (DPR) is currently 150.11%.

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.