Royal London Asset Management Ltd. Boosts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Royal London Asset Management Ltd. boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,758 shares of the financial services provider’s stock after buying an additional 81 shares during the period. Royal London Asset Management Ltd.’s holdings in Equinix were worth $25,541,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cypress Capital Group boosted its holdings in shares of Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group boosted its holdings in shares of Equinix by 3.2% during 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. Lindbrook Capital LLC boosted its holdings in shares of Equinix by 3.0% during the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 14 shares during the last quarter. Banco Santander S.A. boosted its holdings in shares of Equinix by 2.0% during 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 during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Equinix by 0.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,205 shares of the financial services provider’s stock worth $2,645,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Up 0.3 %

NASDAQ:EQIX opened at $867.70 on Thursday. 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 stock’s fifty day moving average is $806.73 and its two-hundred day moving average is $793.62. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The stock has a market capitalization of $82.35 billion, a price-to-earnings ratio of 87.03, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released 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 return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $8.04 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts anticipate that Equinix, Inc. will post 31.01 EPS for the current year.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Insider Transactions at Equinix

In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on 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 transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on 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 transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EQIX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Mizuho started coverage on Equinix in a report on Thursday, July 11th. They set an “outperform” rating and a $873.00 target price on the stock. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Truist Financial upped their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, The Goldman Sachs Group started coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $876.71.

Equinix Company 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.