Sun Life Financial Inc. Takes $9.99 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Sun Life Financial Inc. purchased a new position in Equinix, Inc. (NASDAQ:EQIX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,256 shares of the financial services provider’s stock, valued at approximately $9,991,000. Equinix makes up 0.6% of Sun Life Financial Inc.’s portfolio, making the stock its 23rd biggest holding.

A number of other large investors also recently bought and sold shares of the business. Cypress Capital Group boosted its holdings in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 13 shares in the last quarter. MRA Advisory Group raised its position in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Banco Santander S.A. boosted its stake in Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares in the last quarter. Finally, Abbrea Capital LLC grew its position in Equinix by 5.5% during the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQIX shares. Evercore ISI upped their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group boosted their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Equinix currently has an average rating of “Moderate Buy” and an average price target of $918.40.

Insider Buying and Selling at Equinix

In other Equinix news, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The trade was a 0.00 % 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, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock valued at $8,282,119 in the last 90 days. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

EQIX opened at $914.33 on Monday. The company’s 50 day moving average is $861.56 and its 200 day moving average is $801.35. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a market cap of $86.78 billion, a price-to-earnings ratio of 91.71, a PEG ratio of 2.11 and a beta of 0.71. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business posted $8.04 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. Equinix’s dividend payout ratio is currently 170.91%.

Equinix 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.