Equinix, Inc. $EQIX Shares Purchased by Fisher Funds Management LTD

Fisher Funds Management LTD boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,503 shares of the financial services provider’s stock after purchasing an additional 1,805 shares during the period. Fisher Funds Management LTD’s holdings in Equinix were worth $17,263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Equinix by 1.2% in the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after purchasing an additional 162,638 shares during the period. JPMorgan Chase & Co. lifted its position in Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the period. Principal Financial Group Inc. lifted its position in Equinix by 3.0% in the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after purchasing an additional 56,592 shares during the period. APG Asset Management US Inc. lifted its position in Equinix by 0.4% in the third quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider’s stock valued at $937,530,000 after purchasing an additional 5,109 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Equinix by 408.1% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock valued at $929,312,000 after purchasing an additional 953,001 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Up 1.7%

Shares of Equinix stock opened at $1,070.90 on Friday. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,072.88. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock has a market cap of $105.61 billion, a PE ratio of 77.88, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company has a 50-day moving average of $967.81 and a two-hundred day moving average of $849.53.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business posted $7.92 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were issued a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a yield of 1.9%. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date of this dividend was Wednesday, February 25th. Equinix’s dividend payout ratio is 150.11%.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 1,086 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of the transaction, the chief executive officer directly owned 19,574 shares of the company’s stock, valued at $18,912,398.80. This trade represents a 5.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 2,716 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the transaction, the chairman directly owned 12,594 shares of the company’s stock, valued at approximately $12,155,099.10. This trade represents a 17.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,380 shares of company stock valued at $6,179,022 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EQIX. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on shares of Equinix in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Equinix in a research report on Thursday, January 22nd. Jefferies Financial Group raised their price objective on shares of Equinix from $950.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Morgan Stanley raised their price objective on shares of Equinix from $1,075.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Sanford C. Bernstein initiated coverage on shares of Equinix in a research report on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 price objective for the company. Five research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average target price of $1,046.57.

About Equinix

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.