Bamco Inc. NY grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,587 shares of the financial services provider's stock after purchasing an additional 49,454 shares during the quarter. Equinix comprises about 0.7% of Bamco Inc. NY's investment portfolio, making the stock its 26th biggest position. Bamco Inc. NY owned approximately 0.30% of Equinix worth $274,934,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after purchasing an additional 5,910 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Equinix during the third quarter valued at about $582,000. JPMorgan Chase & Co. increased its stake in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the period. Versant Capital Management Inc lifted its position in shares of Equinix by 23.3% during the 4th quarter. Versant Capital Management Inc now owns 111 shares of the financial services provider's stock worth $105,000 after purchasing an additional 21 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Equinix by 21.2% in the 4th quarter. GAMMA Investing LLC now owns 1,080 shares of the financial services provider's stock worth $1,018,000 after buying an additional 189 shares during the period. 94.94% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
EQIX has been the topic of several research analyst reports. TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. BMO Capital Markets dropped their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a research note on Thursday, March 27th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, May 1st. Finally, Truist Financial cut their price target on Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $1,005.11.
Check Out Our Latest Stock Report on Equinix
Equinix Price Performance
EQIX traded up $5.72 during trading on Friday, hitting $866.71. The company's stock had a trading volume of 106,466 shares, compared to its average volume of 626,872. The firm's 50 day moving average price is $825.93 and its two-hundred day moving average price is $894.18. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $84.78 billion, a price-to-earnings ratio of 101.37, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03.
Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the firm earned $8.86 EPS. The company's revenue was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.
Equinix Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.16%. Equinix's payout ratio is 195.01%.
Insiders Place Their Bets
In other news, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 2,454 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the sale, the chief financial officer now owns 24,402 shares of the company's stock, valued at $22,677,754.68. This represents a 9.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,167 shares of company stock valued at $6,658,536. 0.27% of the stock is currently owned by insiders.
Equinix Company Profile
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Free Report)
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.
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