Korea Investment CORP Lowers Stake in Equinix, Inc. (NASDAQ:EQIX)

Korea Investment CORP cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,405 shares of the financial services provider’s stock after selling 6,336 shares during the period. Korea Investment CORP owned about 0.08% of Equinix worth $73,927,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in shares of Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after purchasing an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after buying an additional 2,560 shares during the last quarter. National Pension Service boosted its stake in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after buying an additional 3,164 shares in the last quarter. Brookfield Corp ON grew its position in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after acquiring an additional 32,481 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after acquiring an additional 404 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EQIX. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Citizens Jmp raised Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix presently has a consensus rating of “Buy” and a consensus target price of $990.06.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. Insiders own 0.27% of the company’s stock.

Equinix Trading Down 1.2 %

EQIX opened at $831.05 on Thursday. The stock has a market cap of $80.89 billion, a PE ratio of 97.20, a PEG ratio of 1.78 and a beta of 0.74. The business has a 50 day moving average of $900.10 and a 200-day moving average of $909.21. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. Equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid 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 dividend yield of 2.26%. Equinix’s dividend payout ratio (DPR) is currently 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.