Equinix, Inc. $EQIX Stock Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its stake in Equinix, Inc. (NASDAQ:EQIX) by 27.5% during the third quarter, Holdings Channel reports. The institutional investor owned 40,027 shares of the financial services provider’s stock after acquiring an additional 8,623 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Equinix were worth $40,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Moore Capital Management LP raised its holdings in Equinix by 235.7% in the 2nd quarter. Moore Capital Management LP now owns 7,675 shares of the financial services provider’s stock worth $8,000,000 after purchasing an additional 5,389 shares during the period. Legal & General Group Plc acquired a new stake in Equinix in the second quarter valued at approximately $1,181,260,000. Bamco Inc. NY acquired a new stake in Equinix in the second quarter valued at approximately $203,930,000. Empowered Funds LLC purchased a new stake in shares of Equinix in the second quarter valued at approximately $5,778,000. Finally, Corient Private Wealth LP increased its position in shares of Equinix by 20.9% in the second quarter. Corient Private Wealth LP now owns 12,597 shares of the financial services provider’s stock valued at $13,132,000 after buying an additional 2,181 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EQIX shares. Raymond James Financial reaffirmed a “strong-buy” rating and set a $1,250.00 target price on shares of Equinix in a research note on Thursday, October 29th. Stifel Nicolaus boosted their price target on shares of Equinix from $1,250.00 to $1,265.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Truist Financial upped their price objective on shares of Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. The Goldman Sachs Group increased their price objective on shares of Equinix from $1,015.00 to $1,060.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Mizuho set a $1,275.00 target price on shares of Equinix in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,234.13.

Insider Activity

In related news, insider Michael Paladin sold 307 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the completion of the sale, the insider owned 2,450 shares of the company’s stock, valued at approximately $2,535,774.50. This represents a 11.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the sale, the director directly owned 13,734 shares of the company’s stock, valued at approximately $15,156,567.72. This represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 968 shares of company stock worth $1,007,885 over the last three months. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $1,053.79 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50 day moving average price is $1,019.12 and its 200-day moving average price is $1,019.84. The firm has a market capitalization of $103.98 billion, a PE ratio of 63.29, a P/E/G ratio of 1.50 and a beta of 0.98. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, beating the consensus estimate of $4.11 by $0.82. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.56 billion. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $9.83 EPS. As a group, equities research analysts expect that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be given a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, November 18th. Equinix’s dividend payout ratio is 123.96%.

About Equinix

Equinix, Inc. is a global digital infrastructure company that operates data centers where businesses can house their computing and networking equipment. Its colocation services support organizations seeking secure, reliable facilities for their IT systems. The company also provides interconnection services that enable customers to connect with cloud providers, networks, business partners and one another. Its Equinix Fabric platform offers software-defined connectivity, while its xScale facilities are designed to serve large-scale cloud and technology companies.