Resona Asset Management Co. Ltd. Takes $50.92 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Resona Asset Management Co. Ltd. acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 54,010 shares of the financial services provider’s stock, valued at approximately $50,917,000. Resona Asset Management Co. Ltd. owned 0.06% of Equinix at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EQIX. Oppenheimer & Co. Inc. boosted its position in shares of Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after acquiring an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after purchasing an additional 2,560 shares in the last quarter. National Pension Service lifted its position in Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after purchasing an additional 3,164 shares during the last quarter. Brookfield Corp ON grew its stake in Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after buying an additional 32,481 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after buying an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 4.4 %

Shares of Equinix stock opened at $766.21 on Friday. The company’s fifty day simple moving average is $883.46 and its two-hundred day simple moving average is $906.22. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market cap of $74.58 billion, a P/E ratio of 89.62, a PEG ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.45%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EQIX. Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Truist Financial reduced their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Oppenheimer boosted their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $1,007.59.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last three months. 0.27% of the stock is currently owned by company insiders.

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.