Global X Japan Co. Ltd. Buys 44 Shares of Equinix, Inc. (NASDAQ:EQIX)

Global X Japan Co. Ltd. grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 24.9% during the 1st quarter, HoldingsChannel reports. The fund owned 221 shares of the financial services provider’s stock after purchasing an additional 44 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Equinix were worth $180,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Rothschild Investment LLC boosted its holdings in Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 11 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 11 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Equinix by 1.6% in the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 12 shares during the last quarter. First Financial Bankshares Inc raised its stake in shares of Equinix by 0.5% in the fourth quarter. First Financial Bankshares Inc now owns 2,470 shares of the financial services provider’s stock worth $2,329,000 after purchasing an additional 13 shares during the last quarter. Finally, Nemes Rush Group LLC raised its stake in shares of Equinix by 18.3% in the fourth quarter. Nemes Rush Group LLC now owns 84 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 13 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EQIX has been the subject of several recent analyst reports. Citigroup boosted their price target on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. TD Securities boosted their price target on Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. New Street Research upgraded Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Truist Financial decreased their price target on Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Finally, Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $1,004.80.

Equinix Stock Performance

NASDAQ:EQIX opened at $886.85 on Friday. The stock has a 50-day simple moving average of $860.72 and a two-hundred day simple moving average of $886.60. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market capitalization of $86.75 billion, a PE ratio of 92.19, a P/E/G ratio of 1.15 and a beta of 0.97.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.86 earnings per share. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is 195.01%.

Insider Transactions at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares of the company’s stock, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 over the last 90 days. Company insiders own 0.27% of the company’s stock.

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.