Equinix, Inc. (NASDAQ:EQIX) Position Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in Equinix, Inc. (NASDAQ:EQIX) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 902,634 shares of the financial services provider’s stock after buying an additional 11,557 shares during the quarter. Equinix makes up approximately 0.8% of Canada Pension Plan Investment Board’s holdings, making the stock its 25th largest holding. Canada Pension Plan Investment Board’s holdings in Equinix were worth $851,085,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Zacks Investment Management bought a new position in Equinix during the fourth quarter valued at approximately $262,000. NewEdge Advisors LLC raised its holdings in shares of Equinix by 42.3% during the 4th quarter. NewEdge Advisors LLC now owns 1,975 shares of the financial services provider’s stock valued at $1,862,000 after purchasing an additional 587 shares in the last quarter. NFJ Investment Group LLC lifted its stake in shares of Equinix by 3.7% in the 4th quarter. NFJ Investment Group LLC now owns 27,066 shares of the financial services provider’s stock valued at $25,520,000 after purchasing an additional 970 shares during the last quarter. Bridgewater Associates LP boosted its holdings in Equinix by 115.7% in the fourth quarter. Bridgewater Associates LP now owns 1,307 shares of the financial services provider’s stock worth $1,232,000 after purchasing an additional 701 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in Equinix during the fourth quarter worth $306,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kurt Pletcher sold 215 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares of the company’s stock, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock worth $6,547,068 in the last three months. 0.27% of the stock is owned by corporate insiders.

Equinix Trading Down 1.1 %

Shares of NASDAQ:EQIX opened at $778.67 on Thursday. The stock has a market cap of $76.17 billion, a PE ratio of 91.07, a P/E/G ratio of 1.78 and a beta of 0.95. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The business has a 50 day moving average of $853.90 and a 200-day moving average of $898.77.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.41%. Equinix’s payout ratio is presently 219.42%.

Analyst Ratings Changes

Several analysts have recently issued reports on EQIX shares. Scotiabank upped their price target on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Wolfe Research upgraded Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target on the stock in a report on Thursday, March 27th. Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Finally, Barclays boosted their target price on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.