OVERSEA CHINESE BANKING Corp Ltd Has $11.51 Million Holdings in Equinix, Inc. $EQIX

OVERSEA CHINESE BANKING Corp Ltd cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,019 shares of the financial services provider’s stock after selling 727 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Equinix were worth $11,507,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EQIX. Brighton Jones LLC lifted its position in Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 73 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Equinix by 11.5% during the first 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 lifted its position in Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 546 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in Equinix during the second quarter worth approximately $231,000. Finally, Brown Advisory Inc. lifted its position in Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 29 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EQIX. Scotiabank downgraded shares of Equinix from a “sector outperform” rating to a “sector perform” rating and raised their price objective for the stock from $997.00 to $1,050.00 in a research report on Tuesday, April 7th. Jefferies Financial Group lifted their price target 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. 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 target for the company. Barclays lifted their price target on shares of Equinix from $1,020.00 to $1,109.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Finally, Stifel Nicolaus set a $1,075.00 price target on shares of Equinix in a research report on Thursday, February 12th. Five investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,056.35.

Equinix Stock Down 0.9%

NASDAQ EQIX opened at $1,094.34 on Wednesday. The company has a 50 day moving average of $982.30 and a 200-day moving average of $857.25. The company has a market cap of $107.93 billion, a price-to-earnings ratio of 79.59, a PEG ratio of 2.81 and a beta of 1.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 1-year low of $710.52 and a 1-year high of $1,108.19.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $7.92 earnings per share. On average, equities research analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current fiscal year.

Equinix Increases Dividend

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

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 630 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total value of $605,549.70. Following the transaction, the insider directly owned 10,394 shares of the company’s stock, valued at $9,990,608.86. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the transaction, the executive vice president directly owned 7,768 shares in the company, valued at $7,501,479.92. This trade represents a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 6,380 shares of company stock valued at $6,179,022 over the last three months. 0.27% of the stock is owned by corporate insiders.

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.