Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Equinix, Inc. $EQIX

Mirae Asset Global Investments Co. Ltd. raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,563 shares of the financial services provider’s stock after acquiring an additional 854 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Equinix were worth $16,889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Equinix by 11.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 54 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after buying an additional 546 shares during the period. HB Wealth Management LLC boosted its holdings in Equinix by 13.0% during the 2nd quarter. HB Wealth Management LLC now owns 2,250 shares of the financial services provider’s stock valued at $1,790,000 after acquiring an additional 259 shares during the period. Finally, Truist Financial Corp boosted its stake in shares of Equinix by 4.6% during the second quarter. Truist Financial Corp now owns 54,718 shares of the financial services provider’s stock valued at $43,526,000 after purchasing an additional 2,417 shares during the period. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Charles J. Meyers sold 2,094 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.14, for a total transaction of $1,683,869.16. Following the completion of the transaction, the chairman directly owned 13,253 shares of the company’s stock, valued at $10,657,267.42. This represents a 13.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan Lin sold 888 shares of Equinix stock in a transaction on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $711,980.64. Following the completion of the sale, the insider directly owned 9,390 shares in the company, valued at $7,528,714.20. This represents a 8.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,590 shares of company stock valued at $15,366,046. 0.27% of the stock is owned by insiders.

Equinix Stock Down 0.6%

EQIX opened at $820.93 on Friday. The company has a fifty day moving average of $769.84 and a two-hundred day moving average of $784.68. The stock has a market capitalization of $80.61 billion, a price-to-earnings ratio of 75.18, a PEG ratio of 1.29 and a beta of 1.05. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $953.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.62 and a current ratio of 1.62.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, beating analysts’ consensus estimates of $9.27 by $0.56. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $9.05 EPS. On average, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of research reports. HSBC set a $1,050.00 price target on Equinix and gave the company a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. increased their price target on shares of Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Barclays reissued a “positive” rating and issued a $870.00 price objective on shares of Equinix in a research report on Tuesday, January 13th. The Goldman Sachs Group cut shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 target price for the company. in a research note on Thursday, December 18th. Finally, Truist Financial boosted their price target on Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a research note on Tuesday, November 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $959.64.

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.