AGF Management Ltd. Buys 9,396 Shares of Equinix, Inc. (NASDAQ:EQIX)

AGF Management Ltd. raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 43.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,950 shares of the financial services provider’s stock after purchasing an additional 9,396 shares during the quarter. AGF Management Ltd.’s holdings in Equinix were worth $29,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its stake in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after buying an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in 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 buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Equinix by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock valued at $1,107,860,000 after buying an additional 40,791 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.7 %

NASDAQ EQIX opened at $836.24 on Wednesday. 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 company has a fifty day moving average of $918.81 and a two-hundred day moving average of $908.19. The firm has a market capitalization of $81.39 billion, a price-to-earnings ratio of 97.81, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.24%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the company’s 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 sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the sale, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 over the last quarter. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on EQIX. Stifel Nicolaus upped their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company cut their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada raised their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. BMO Capital Markets dropped their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial dropped their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix has a consensus rating of “Buy” and an average price target of $989.35.

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.