Svenska Handelsbanken AB publ Acquires Shares of 37,982 Equinix, Inc. (NASDAQ:EQIX)

Svenska Handelsbanken AB publ bought a new position in Equinix, Inc. (NASDAQ:EQIX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 37,982 shares of the financial services provider’s stock, valued at approximately $31,348,000. Equinix comprises about 9.9% of Svenska Handelsbanken AB publ’s investment portfolio, making the stock its 4th biggest holding.

A number of other hedge funds have also made changes to their positions in EQIX. Public Employees Retirement System of Ohio raised its holdings in shares of Equinix by 0.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after buying an additional 1,159 shares during the last quarter. Aew Capital Management L P lifted its position in shares of Equinix by 0.8% during the fourth quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock worth $250,286,000 after purchasing an additional 2,503 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Equinix during the fourth quarter worth approximately $3,724,000. Braun Stacey Associates Inc. increased its holdings in shares of Equinix by 12.5% in the fourth quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after purchasing an additional 3,591 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in Equinix in the 1st quarter worth approximately $15,187,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Down 1.0 %

Shares of NASDAQ EQIX traded down $7.38 during mid-day trading on Wednesday, reaching $749.00. 236,190 shares of the company’s stock were exchanged, compared to its average volume of 594,707. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 75.13, a PEG ratio of 2.63 and a beta of 0.68. The business has a fifty day simple moving average of $755.84 and a 200 day simple moving average of $799.46.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s payout ratio is currently 170.91%.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on EQIX. The Goldman Sachs Group assumed coverage on Equinix in a research report on Monday. They issued a “buy” rating and a $870.00 price objective on the stock. Royal Bank of Canada lowered their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. TD Cowen reduced their target price on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Barclays lifted their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Truist Financial increased their price objective on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $872.33.

Equinix 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.