Equinix, Inc. $EQIX Stock: M&G PLC Decreases Holdings

M&G PLC cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 20.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 179,118 shares of the financial services provider’s stock after selling 47,349 shares during the period. M&G PLC’s holdings in Equinix were worth $181,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. AlphaCore Capital LLC lifted its position in Equinix by 26.4% during the third quarter. AlphaCore Capital LLC now owns 599 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 125 shares during the last quarter. Fulcrum Asset Management LLP boosted its holdings in shares of Equinix by 10,138.6% during the third quarter. Fulcrum Asset Management LLP now owns 11,672 shares of the financial services provider’s stock worth $11,850,000 after acquiring an additional 11,558 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Equinix by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,730 shares of the financial services provider’s stock valued at $9,850,000 after purchasing an additional 177 shares during the last quarter. Candriam S.C.A. grew its position in shares of Equinix by 15.7% in the third quarter. Candriam S.C.A. now owns 45,993 shares of the financial services provider’s stock valued at $46,696,000 after purchasing an additional 6,236 shares during the last quarter. Finally, Uhlmann Price Securities LLC increased its stake in shares of Equinix by 258.3% during the third quarter. Uhlmann Price Securities LLC now owns 1,899 shares of the financial services provider’s stock worth $1,921,000 after purchasing an additional 1,369 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Equinix in a report on Friday, October 30th. Raymond James Financial reiterated a “strong-buy” rating and set a $1,250.00 price objective on shares of Equinix in a research report on Thursday, October 29th. Royal Bank Of Canada lifted their target price on Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Mizuho set a $1,275.00 target price on Equinix in a report on Thursday, October 29th. Finally, TD Cowen boosted their target price on shares of Equinix from $1,166.00 to $1,210.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $1,234.13.

Equinix Trading Up 4.1%

Shares of EQIX stock opened at $1,054.50 on Tuesday. The stock has a market cap of $104.05 billion, a P/E ratio of 63.33, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59. The stock has a 50 day simple moving average of $1,016.92 and a 200 day simple moving average of $1,014.61.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.56 billion. Equinix had a return on equity of 11.49% and a net margin of 16.38%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $9.83 EPS. On average, research analysts predict that Equinix, Inc. will post 39.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 18th will be given a $5.16 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix’s dividend payout ratio (DPR) is presently 123.96%.

Insider Buying and Selling

In other Equinix news, insider Michael Paladin sold 307 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the sale, the insider directly owned 2,450 shares in the company, valued at $2,535,774.50. This represents a 11.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kurt Pletcher sold 198 shares of the stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $1,014.18, for a total transaction of $200,807.64. Following the sale, the insider owned 3,879 shares in the company, valued at $3,934,004.22. The trade was a 4.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 968 shares of company stock worth $1,007,885. Company insiders own 0.27% of the company’s stock.

Equinix Company Profile