Nordea Investment Management AB Has $403.37 Million Position in Equinix, Inc. $EQIX

Nordea Investment Management AB grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 526,994 shares of the financial services provider’s stock after purchasing an additional 43,511 shares during the period. Nordea Investment Management AB owned approximately 0.54% of Equinix worth $403,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Equinix in the 2nd quarter worth about $892,431,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Equinix by 408.1% during 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 worth $929,312,000 after acquiring an additional 953,001 shares during the period. JPMorgan Chase & Co. grew its stake in Equinix by 25.8% during 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 acquiring an additional 588,967 shares in the last quarter. State Street Corp increased its holdings in shares of Equinix by 3.7% in the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after purchasing an additional 220,981 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Equinix by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after purchasing an additional 162,638 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 1.6%

Shares of Equinix stock opened at $959.16 on Friday. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $992.90. 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 50 day moving average price of $890.78 and a two-hundred day moving average price of $820.51. The stock has a market capitalization of $94.24 billion, a P/E ratio of 69.76, a PEG ratio of 2.47 and a beta of 1.04.

Equinix (NASDAQ:EQIX) last released 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). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the business earned $7.92 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts expect 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 was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 annualized dividend and a yield of 2.2%. Equinix’s payout ratio is 150.11%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EQIX shares. The Goldman Sachs Group raised their price target on shares of Equinix from $785.00 to $894.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating and issued a $1,075.00 target price on shares of Equinix in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. Truist Financial lifted their price objective on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Finally, TD Cowen reissued 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,013.43.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 2,670 shares of Equinix stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.08, for a total value of $2,146,893.60. Following the transaction, the chief executive officer directly owned 14,857 shares in the company, valued at approximately $11,946,216.56. The trade was a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 927 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $743,250.06. Following the transaction, the executive vice president directly owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This represents a 11.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,842 shares of company stock worth $14,494,840. Insiders own 0.27% of the company’s stock.

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.