Resona Asset Management Co. Ltd. Makes New $50.92 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Resona Asset Management Co. Ltd. purchased a new position in Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,010 shares of the financial services provider’s stock, valued at approximately $50,917,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Equinix by 0.3% during the 3rd 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 acquiring an additional 5,910 shares during the last quarter. Edgestream Partners L.P. lifted its position in Equinix by 61.3% during the third quarter. Edgestream Partners L.P. now owns 792 shares of the financial services provider’s stock valued at $703,000 after purchasing an additional 301 shares during the period. IHT Wealth Management LLC grew its position in Equinix by 18.2% in the 3rd quarter. IHT Wealth Management LLC now owns 714 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 110 shares during the period. Royal London Asset Management Ltd. raised its stake in Equinix by 7.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 36,361 shares of the financial services provider’s stock valued at $32,275,000 after buying an additional 2,603 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Equinix by 20.8% during the 3rd quarter. Quantinno Capital Management LP now owns 9,352 shares of the financial services provider’s stock valued at $8,302,000 after buying an additional 1,610 shares during the period. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on EQIX. Royal Bank of Canada upped their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Mizuho reduced their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating for the company in a research report on Friday, March 28th. BMO Capital Markets cut their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Truist Financial decreased 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 report on Monday, March 10th. Finally, Scotiabank boosted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $1,007.59.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 over the last ninety days. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

NASDAQ EQIX opened at $766.21 on Friday. 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, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The business has a 50 day simple moving average of $883.46 and a two-hundred day simple moving average of $906.22. The stock has a market capitalization of $74.58 billion, a PE ratio of 89.62, a P/E/G ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were given a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.45%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

About Equinix

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.