Korea Investment CORP Sells 6,336 Shares of Equinix, Inc. (NASDAQ:EQIX)

Korea Investment CORP lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 7.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 78,405 shares of the financial services provider’s stock after selling 6,336 shares during the period. Korea Investment CORP’s holdings in Equinix were worth $73,927,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after buying an additional 813,666 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Equinix during the fourth quarter valued at $328,899,000. Adelante Capital Management LLC increased its position in Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Equinix in the fourth quarter worth about $246,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Equinix stock opened at $831.05 on Thursday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $900.10 and its 200 day moving average is $909.21. The company has a market cap of $80.89 billion, a price-to-earnings ratio of 97.20, a PEG ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.26%. Equinix’s payout ratio is 219.42%.

Insider Activity

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

EQIX has been the topic of several recent research reports. BMO Capital Markets lowered their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Barclays lifted their price objective on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Truist Financial reduced their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has a consensus rating of “Buy” and an average price target of $990.06.

About Equinix

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.