Mitsubishi UFJ Asset Management Co. Ltd. Acquires 12,536 Shares of Equinix, Inc. $EQIX

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 268,950 shares of the financial services provider’s stock after purchasing an additional 12,536 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Equinix were worth $210,652,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. increased its holdings in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 21 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Equinix during the 2nd quarter valued at $26,000. Bank of Jackson Hole Trust boosted its position in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Abound Wealth Management increased its holdings in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Equinix in the 2nd quarter worth $28,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, insider Kurt Pletcher sold 596 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $477,860.88. Following the transaction, the insider directly owned 3,195 shares of the company’s stock, valued at $2,561,687.10. This represents a 15.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 1,333 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.25, for a total value of $1,072,065.25. Following the completion of the transaction, the insider owned 9,551 shares of the company’s stock, valued at $7,681,391.75. This trade represents a 12.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 14,353 shares of company stock valued at $11,283,043. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

Shares of EQIX stock opened at $948.02 on Friday. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $992.90. The firm has a market capitalization of $93.14 billion, a price-to-earnings ratio of 68.95, a PEG ratio of 1.91 and a beta of 1.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s 50-day simple moving average is $827.75 and its 200-day simple moving average is $799.61.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $7.92 earnings per share. As a group, equities analysts forecast 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 will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. The ex-dividend date is Wednesday, February 25th. This is an increase from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 2.2%. Equinix’s payout ratio is presently 150.11%.

Analyst Ratings Changes

EQIX has been the topic of a number of recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. UBS Group increased their price target on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Jefferies Financial Group boosted their price objective on shares of Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Equinix in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,001.41.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.