Eurizon Capital SGR S.p.A. Buys 8,623 Shares of Equinix, Inc. $EQIX

Eurizon Capital SGR S.p.A. grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 27.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in Equinix in the second quarter worth about $11,930,074,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Equinix by 26,831.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock valued at $1,291,648,000 after buying an additional 1,234,521 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Equinix in the 2nd quarter valued at about $1,181,260,000. Canada Pension Plan Investment Board purchased a new position in shares of Equinix in the 2nd quarter worth approximately $1,163,662,000. Finally, Deutsche Bank AG purchased a new position in shares of Equinix in the 2nd quarter worth approximately $1,118,930,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Equinix news, Director Christopher Paisley sold 125 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the sale, the director owned 13,734 shares in the company, valued at approximately $15,156,567.72. The trade was a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kurt Pletcher sold 198 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $1,014.18, for a total value of $200,807.64. Following the completion of the transaction, the insider directly owned 3,879 shares in the company, valued at $3,934,004.22. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 968 shares of company stock valued at $1,007,885. 0.27% of the stock is owned by company insiders.

Equinix Stock Down 1.8%

NASDAQ:EQIX opened at $1,053.79 on Friday. The company has a market cap 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 twelve month low of $720.62 and a twelve month high of $1,128.68. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59. The company’s 50 day moving average is $1,019.12 and its two-hundred day moving average is $1,019.84.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $9.83 earnings per share. Analysts anticipate that Equinix, Inc. will post 39.01 EPS for the current year.

Equinix Announces Dividend

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

Analyst Upgrades and Downgrades

EQIX has been the subject of several recent analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $1,250.00 price objective on shares of Equinix in a research note on Thursday, October 29th. Rothschild & Co Redburn started coverage on shares of Equinix in a report on Monday, September 21st. They issued a “buy” rating and a $1,261.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Equinix from $1,015.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upped their price target on Equinix from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Finally, Evercore reiterated an “outperform” rating and set a $1,270.00 price objective (up from $1,240.00) on shares of Equinix in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,234.13.

Equinix Company Profile

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.