IFM Investors Pty Ltd Has $37.66 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

IFM Investors Pty Ltd trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 0.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,427 shares of the financial services provider’s stock after selling 33 shares during the period. IFM Investors Pty Ltd’s holdings in Equinix were worth $37,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQIX. BDF Gestion purchased a new stake in shares of Equinix in the second quarter worth approximately $2,659,000. Bessemer Group Inc. lifted its position in shares of Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 1,380 shares in the last quarter. Brookmont Capital Management purchased a new stake in shares of Equinix in the first quarter worth approximately $2,894,000. GSA Capital Partners LLP purchased a new stake in shares of Equinix in the first quarter worth approximately $804,000. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after purchasing an additional 75,888 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Equinix news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,043 shares of company stock worth $8,282,119. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock traded up $1.80 during midday trading on Thursday, hitting $892.96. The company had a trading volume of 80,811 shares, compared to its average volume of 524,817. The business’s 50 day simple moving average is $858.53 and its two-hundred day simple moving average is $799.63. The stock has a market cap of $84.75 billion, a PE ratio of 89.38, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.04 EPS. As a group, equities analysts predict that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 annualized dividend and a dividend yield of 1.91%. Equinix’s payout ratio is 170.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EQIX shares. Truist Financial increased their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. TD Cowen increased their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $918.40.

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.