KBC Group NV Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

KBC Group NV increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 262.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 98,271 shares of the financial services provider’s stock after buying an additional 71,155 shares during the quarter. KBC Group NV owned about 0.10% of Equinix worth $87,229,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its holdings in shares of Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after acquiring an additional 398,494 shares during the period. Swedbank AB purchased a new position in Equinix during the 1st quarter worth $294,526,000. Principal Financial Group Inc. increased its stake in Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares during the period. Vanguard Group Inc. raised its holdings in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares during the last quarter. Finally, M&G Plc purchased a new stake in shares of Equinix in the first quarter valued at about $187,089,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Equinix news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,654 shares of company stock valued at $11,577,656 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Evercore ISI increased their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Barclays boosted their price objective on shares of Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Equinix Stock Performance

EQIX opened at $901.15 on Thursday. The stock’s 50 day simple moving average is $880.98 and its 200 day simple moving average is $814.56. The stock has a market cap of $86.95 billion, a P/E ratio of 81.26, a P/E/G ratio of 2.27 and a beta of 0.71. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $943.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.89%. Equinix’s dividend payout ratio is presently 153.65%.

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.