Wolverine Asset Management LLC Makes New $1.02 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Wolverine Asset Management LLC bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,353 shares of the financial services provider’s stock, valued at approximately $1,024,000.

A number of other large investors also recently modified their holdings of EQIX. Norges Bank purchased a new position in Equinix during the fourth quarter valued at approximately $1,574,132,000. Swedbank AB purchased a new position in Equinix during the first quarter valued at approximately $294,526,000. Principal Financial Group Inc. grew its stake in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares in the last quarter. Vanguard Group Inc. grew its stake in Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares in the last quarter. Finally, M&G Plc purchased a new position in Equinix during the first quarter valued at approximately $187,089,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Trading Down 0.5 %

NASDAQ:EQIX opened at $827.59 on Thursday. The company has a fifty day moving average of $798.12 and a 200 day moving average of $794.56. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $78.54 billion, a P/E ratio of 83.01, a P/E/G ratio of 2.03 and a beta of 0.68.

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

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 2.06%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Analyst Ratings Changes

EQIX has been the subject of a number of research reports. Truist Financial boosted their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Barclays boosted their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. The Goldman Sachs Group initiated coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Finally, TD Cowen boosted their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average target price of $876.71.

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.