Avanza Fonder AB Makes New $6.76 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Avanza Fonder AB purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 7,167 shares of the financial services provider’s stock, valued at approximately $6,758,000.

A number of other hedge funds have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after purchasing an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in Equinix by 89,348.4% during 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. Adelante Capital Management LLC grew its position in Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after acquiring an additional 344,114 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in Equinix by 104.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after purchasing an additional 160,906 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the completion of the sale, the insider now owns 6,505 shares in the company, valued at approximately $5,886,959.95. This represents a 20.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,398 shares of company stock valued at $7,906,218 over the last three months. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Evercore ISI raised their target price on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $976.81.

Equinix Stock Up 2.5 %

EQIX stock opened at $922.88 on Friday. 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, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a market capitalization of $89.05 billion, a P/E ratio of 83.56, a P/E/G ratio of 2.12 and a beta of 0.73. The business has a fifty day moving average price of $941.51 and a 200-day moving average price of $874.47.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.85%. Equinix’s dividend payout ratio is presently 153.65%.

About Equinix

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.