Allianz SE Buys Shares of 2,561 Equinix, Inc. (NASDAQ:EQIX)

Allianz SE purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,561 shares of the financial services provider’s stock, valued at approximately $2,397,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after purchasing an additional 5,910 shares during the period. D.A. Davidson & CO. boosted its position in Equinix by 19.0% in the 3rd quarter. D.A. Davidson & CO. now owns 846 shares of the financial services provider’s stock valued at $751,000 after buying an additional 135 shares during the period. Townsquare Capital LLC grew its stake in shares of Equinix by 47.4% in the third quarter. Townsquare Capital LLC now owns 1,943 shares of the financial services provider’s stock worth $1,725,000 after acquiring an additional 625 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Equinix during the third quarter worth $279,000. Finally, Hantz Financial Services Inc. boosted its holdings in Equinix by 8.1% in the third quarter. Hantz Financial Services Inc. now owns 3,677 shares of the financial services provider’s stock valued at $3,264,000 after purchasing an additional 275 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Barclays raised their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Scotiabank boosted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. BMO Capital Markets cut their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial cut their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $1,007.59.

Equinix Stock Performance

NASDAQ:EQIX opened at $803.00 on Friday. The firm’s fifty day simple moving average is $895.96 and its 200-day simple moving average is $908.73. 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 stock has a market cap of $78.16 billion, a PE ratio of 93.92, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

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

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.34%. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the transaction, the chairman now directly owns 15,233 shares in the company, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 over the last three months. 0.27% of the stock is currently owned by insiders.

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.