Danske Bank A S Invests $54.51 Million in Equinix, Inc. $EQIX

Danske Bank A S purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 69,594 shares of the financial services provider’s stock, valued at approximately $54,509,000.

A number of other hedge funds have also added to or reduced their stakes in EQIX. Norges Bank acquired a new position in Equinix during the second quarter valued at approximately $892,431,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Equinix by 408.1% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock valued at $929,312,000 after purchasing an additional 953,001 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Equinix by 25.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. State Street Corp raised its holdings in shares of Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after buying an additional 220,981 shares in the last quarter. Finally, ABN AMRO Bank N.V. acquired a new position in shares of Equinix during the 2nd quarter worth $172,581,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $915.00 target price on shares of Equinix in a report on Tuesday, January 6th. Wall Street Zen downgraded shares of Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,013.43.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 1,086 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of the transaction, the chief executive officer owned 19,574 shares of the company’s stock, valued at approximately $18,912,398.80. This trade represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total transaction of $613,225.85. Following the transaction, the insider owned 10,788 shares in the company, valued at approximately $10,418,079.48. This trade represents a 5.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 16,842 shares of company stock worth $14,494,840. Company insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX opened at $973.56 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. The stock has a market cap of $95.65 billion, a PE ratio of 70.80, a PEG ratio of 2.51 and a beta of 1.04. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $992.90. The business has a 50-day simple moving average of $883.74 and a two-hundred day simple moving average of $817.88.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $7.92 earnings per share. Analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were given a dividend of $5.16 per share. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 annualized dividend and a yield of 2.1%. This is a boost from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is 150.11%.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.