Korea Investment CORP Grows Position in Equinix, Inc. $EQIX

Korea Investment CORP boosted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,508 shares of the financial services provider’s stock after acquiring an additional 1,103 shares during the quarter. Korea Investment CORP owned about 0.08% of Equinix worth $64,827,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EQIX. Brighton Jones LLC raised its position in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 73 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in Equinix in the fourth quarter worth $2,027,000. NewEdge Advisors LLC raised its position in Equinix by 42.3% in the fourth quarter. NewEdge Advisors LLC now owns 1,975 shares of the financial services provider’s stock worth $1,862,000 after acquiring an additional 587 shares in the last quarter. Zacks Investment Management purchased a new position in Equinix in the fourth quarter worth $262,000. Finally, Commerce Bank increased its position in shares of Equinix by 0.8% in the fourth quarter. Commerce Bank now owns 3,734 shares of the financial services provider’s stock valued at $3,521,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Scotiabank dropped their price target on Equinix from $1,030.00 to $965.00 and set a “sector outperform” rating for the company in a research report on Thursday, June 26th. New Street Research upgraded Equinix to a “strong-buy” rating in a research report on Monday, April 28th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Tuesday, July 22nd. Cfra Research cut Equinix from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Dbs Bank upgraded Equinix to a “moderate buy” rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $962.24.

Equinix Stock Down 1.5%

Shares of NASDAQ:EQIX opened at $769.65 on Tuesday. The stock’s 50-day moving average price is $805.88 and its two-hundred day moving average price is $842.00. The firm has a market cap of $75.32 billion, a price-to-earnings ratio of 75.38, a PEG ratio of 1.41 and a beta of 0.90. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping analysts’ consensus estimates of $3.49 by $6.42. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $9.22 EPS. On average, research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 20th. Equinix’s dividend payout ratio (DPR) is 183.74%.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company 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.