Gulf International Bank UK Ltd Has $6.81 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Gulf International Bank UK Ltd trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,225 shares of the financial services provider’s stock after selling 77 shares during the period. Gulf International Bank UK Ltd’s holdings in Equinix were worth $6,812,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in Equinix by 11.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,391 shares of the financial services provider’s stock valued at $3,010,000 after buying an additional 357 shares during the period. Arkadios Wealth Advisors bought a new position in Equinix in the third quarter valued at $455,000. Fortitude Family Office LLC grew its position in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fidelis Capital Partners LLC grew its position in Equinix by 28.0% in the third quarter. Fidelis Capital Partners LLC now owns 1,461 shares of the financial services provider’s stock valued at $1,302,000 after purchasing an additional 320 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its position in Equinix by 1.9% in the third quarter. Adell Harriman & Carpenter Inc. now owns 19,933 shares of the financial services provider’s stock valued at $17,694,000 after purchasing an additional 378 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Equinix

In related news, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the sale, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. The trade was a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,741 shares of company stock worth $21,988,532 over the last quarter. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of research reports. BMO Capital Markets cut their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Scotiabank reduced their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. TD Cowen boosted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Equinix has a consensus rating of “Buy” and an average target price of $994.82.

Equinix Price Performance

EQIX opened at $910.03 on Thursday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The stock has a 50-day moving average price of $928.88 and a 200-day moving average price of $904.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market cap of $88.58 billion, a PE ratio of 106.44, a P/E/G ratio of 1.78 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 219.42%.

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.