Penserra Capital Management LLC Raises Stock Holdings in Equinix, Inc. $EQIX

Penserra Capital Management LLC lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 29.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,761 shares of the financial services provider’s stock after acquiring an additional 2,941 shares during the period. Penserra Capital Management LLC’s holdings in Equinix were worth $9,994,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQIX. Norges Bank purchased a new stake in shares of Equinix in the second quarter valued at about $892,431,000. Vanguard Group Inc. increased its position in Equinix by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock valued at $10,443,758,000 after acquiring an additional 222,221 shares during the period. State Street Corp raised its stake in Equinix by 3.7% during the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after acquiring an additional 220,981 shares during the last quarter. ABN AMRO Bank N.V. acquired a new stake in Equinix during the 2nd quarter worth approximately $172,581,000. Finally, Nordea Investment Management AB lifted its position in Equinix by 44.7% during the 2nd quarter. Nordea Investment Management AB now owns 450,693 shares of the financial services provider’s stock worth $352,212,000 after acquiring an additional 139,170 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

EQIX stock opened at $802.13 on Thursday. The firm has a 50 day moving average of $772.94 and a 200-day moving average of $785.52. The company has a market cap of $78.76 billion, a price-to-earnings ratio of 73.46, a PEG ratio of 1.25 and a beta of 1.06. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $953.41.

Insider Activity at Equinix

In other Equinix 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 sale, the insider owned 3,195 shares of the company’s stock, valued at approximately $2,561,687.10. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Shane Paladin sold 327 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $804.36, for a total value of $263,025.72. Following the completion of the transaction, the insider owned 952 shares of the company’s stock, valued at approximately $765,750.72. This represents a 25.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,490 shares of company stock valued at $15,281,999 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EQIX has been the topic of a number of recent research reports. TD Cowen reissued a “buy” rating on shares of Equinix in a report on Thursday, October 30th. UBS Group set a $959.00 price objective on shares of Equinix in a research report on Wednesday, January 14th. Scotiabank lowered their target price on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating on the stock in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a report on Tuesday, January 6th. Finally, Barclays reaffirmed a “positive” rating and issued a $870.00 price objective on shares of Equinix in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average target price of $959.64.

About Equinix

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.