Mitsubishi UFJ Asset Management Co. Ltd. Acquires 15,543 Shares of Equinix, Inc. (NASDAQ:EQIX)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 216,058 shares of the financial services provider’s stock after buying an additional 15,543 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Equinix were worth $207,409,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Kestra Investment Management LLC purchased a new position in Equinix in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp purchased a new position in Equinix in the fourth quarter valued at approximately $39,000. Sierra Ocean LLC bought a new position in Equinix during the fourth quarter valued at $42,000. Dunhill Financial LLC increased its position in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in Equinix in the fourth quarter worth $47,000. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on EQIX. Wells Fargo & Company cut their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets cut their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada lifted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays upped their price target on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Finally, Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $990.06.

Insider Buying and Selling at Equinix

In other Equinix news, insider Kurt Pletcher sold 341 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This trade represents a 19.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Down 1.2 %

Shares of NASDAQ EQIX opened at $831.05 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $900.10 and a 200-day moving average of $909.21. The firm has a market capitalization of $80.89 billion, a price-to-earnings ratio of 97.20, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.26%. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

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.