National Bank of Canada FI Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

National Bank of Canada FI grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 226.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,825 shares of the financial services provider’s stock after purchasing an additional 81,020 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Equinix worth $88,745,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EQIX. Fisher Asset Management LLC purchased a new stake in Equinix in the fourth quarter valued at approximately $382,000. Axxcess Wealth Management LLC acquired a new stake in shares of Equinix during the 4th quarter worth $270,000. Private Advisor Group LLC raised its position in shares of Equinix by 18.9% in the 4th quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider’s stock worth $711,000 after buying an additional 140 shares during the period. Lincoln National Corp raised its position in shares of Equinix by 13.9% in the 4th quarter. Lincoln National Corp now owns 1,212 shares of the financial services provider’s stock worth $976,000 after buying an additional 148 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in Equinix by 165.4% in the fourth quarter. Apollon Wealth Management LLC now owns 921 shares of the financial services provider’s stock valued at $741,000 after acquiring an additional 574 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Mizuho initiated coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. Barclays raised their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. The Goldman Sachs Group assumed coverage on shares of Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective for the company. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Finally, TD Cowen lifted their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $876.71.

Insider Activity

In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’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 approximately $6,328,089.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,472 shares of company stock worth $6,154,812. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Down 0.7 %

Shares of EQIX opened at $821.74 on Friday. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93. The stock has a 50-day moving average price of $799.52 and a 200 day moving average price of $794.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $77.99 billion, a P/E ratio of 82.42, a P/E/G ratio of 2.03 and a beta of 0.68.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $8.04 earnings per share. Sell-side analysts forecast that Equinix, Inc. will post 31.04 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, August 21st. Equinix’s 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.