Forsta AP Fonden Sells 1,500 Shares of Equinix, Inc. (NASDAQ:EQIX)

Forsta AP Fonden lessened its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 6.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,400 shares of the financial services provider’s stock after selling 1,500 shares during the period. Forsta AP Fonden’s holdings in Equinix were worth $18,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EQIX. Vanguard Group Inc. increased its stake in 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 purchasing an additional 238,815 shares in the last quarter. 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after purchasing an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in Equinix by 13.5% in the first quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock valued at $778,332,000 after purchasing an additional 112,194 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Truist Financial lifted their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company lifted their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and an average price target of $918.40.

Equinix Stock Performance

NASDAQ EQIX opened at $914.33 on Friday. The company’s 50 day moving average is $861.56 and its 200-day moving average is $801.17. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The firm has a market cap of $86.81 billion, a P/E ratio of 83.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results 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 business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $8.04 EPS. Sell-side analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 156.04%.

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.