Harvest Fund Management Co. Ltd Makes New $770,000 Investment in Equinix, Inc. (NASDAQ:EQIX)

Harvest Fund Management Co. Ltd purchased a new stake in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 817 shares of the financial services provider’s stock, valued at approximately $770,000.

A number of other large investors also recently modified their holdings of EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after acquiring an additional 813,666 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Equinix in the 4th quarter valued at $328,899,000. Adelante Capital Management LLC lifted its stake in shares of Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Equinix in the 4th quarter valued at $246,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Equinix by 17.9% in 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 acquiring an additional 203,656 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the business’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 directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on EQIX shares. Scotiabank increased their price target on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Wells Fargo & Company lowered their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three equities 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 stock. Based on data from MarketBeat, Equinix presently has an average rating of “Buy” and a consensus price target of $990.06.

Equinix Stock Performance

Shares of Equinix stock opened at $851.72 on Friday. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The firm has a market capitalization of $82.90 billion, a price-to-earnings ratio of 99.62, a PEG ratio of 1.78 and a beta of 0.74. The business has a 50-day simple moving average of $904.87 and a 200 day simple moving average of $908.27. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Wednesday, February 26th. Equinix’s payout ratio is currently 219.42%.

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.