M&G Investment Management Ltd. boosted its holdings in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,129 shares of the financial services provider’s stock after purchasing an additional 2,470 shares during the period. Equinix comprises about 0.8% of M&G Investment Management Ltd.’s portfolio, making the stock its 23rd largest holding. M&G Investment Management Ltd. owned 0.26% of Equinix worth $133,219,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Equinix by 9.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 101,259 shares of the financial services provider’s stock valued at $57,600,000 after purchasing an additional 8,869 shares during the period. Pinnacle Associates Ltd. raised its stake in Equinix by 15.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 483 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 63 shares during the period. MUFG Americas Holdings Corp raised its stake in Equinix by 35.0% in the 3rd quarter. MUFG Americas Holdings Corp now owns 1,181 shares of the financial services provider’s stock valued at $672,000 after acquiring an additional 306 shares during the period. SG Americas Securities LLC boosted its position in Equinix by 10.2% during the third quarter. SG Americas Securities LLC now owns 2,399 shares of the financial services provider’s stock worth $1,365,000 after purchasing an additional 222 shares during the period. Finally, Valeo Financial Advisors LLC raised its position in shares of Equinix by 5.4% in the third quarter. Valeo Financial Advisors LLC now owns 2,422 shares of the financial services provider’s stock valued at $1,378,000 after purchasing an additional 124 shares during the period. Institutional investors own 92.80% of the company’s stock.
Insider Activity
In related news, insider Brandi Galvin Morandi sold 65 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $549.83, for a total value of $35,738.95. Following the completion of the transaction, the insider now owns 17,285 shares in the company, valued at approximately $9,503,811.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Brandi Galvin Morandi sold 65 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $549.83, for a total transaction of $35,738.95. Following the completion of the transaction, the insider now directly owns 17,285 shares of the company’s stock, valued at approximately $9,503,811.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Lin sold 76 shares of the stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $683.75, for a total value of $51,965.00. Following the completion of the sale, the executive vice president now directly owns 5,496 shares of the company’s stock, valued at approximately $3,757,890. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,354 shares of company stock valued at $2,325,770. 0.32% of the stock is currently owned by corporate insiders.
Equinix Stock Up 1.4 %
Shares of NASDAQ:EQIX opened at $725.34 on Friday. Equinix, Inc. has a 52-week low of $494.89 and a 52-week high of $776.35. The company has a market capitalization of $67.12 billion, a PE ratio of 94.82, a price-to-earnings-growth ratio of 2.56 and a beta of 0.60. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.37 and a current ratio of 2.37. The company has a fifty day moving average of $665.67 and a 200-day moving average of $640.08.
Equinix Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 16th were given a $3.10 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $12.40 annualized dividend and a yield of 1.71%. Equinix’s dividend payout ratio is presently 162.09%.
Analysts Set New Price Targets
EQIX has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $680.00 to $725.00 in a research note on Friday, December 16th. StockNews.com cut Equinix from a “buy” rating to a “hold” rating in a report on Wednesday, November 23rd. Citigroup decreased their price objective on Equinix from $810.00 to $750.00 in a report on Sunday, November 13th. Morgan Stanley reduced their target price on shares of Equinix from $732.00 to $704.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 26th. Finally, Credit Suisse Group raised their price target on shares of Equinix from $571.00 to $591.00 and gave the stock a “neutral” rating in a research report on Thursday, November 3rd. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $757.33.
Equinix Company Profile
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today’s businesses to access all the right places, partners and possibilities they need to accelerate advantage.
Further Reading
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Read More: M&G Investment Management Ltd. Acquires 2,470 Shares of Equinix, Inc. (NASDAQ:EQIX)