Daiwa Securities Group Inc. Cuts Stake in Equinix, Inc. (NASDAQ:EQIX)

Daiwa Securities Group Inc. decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 9.8% during the 4th quarter, Holdings Channel reports. The fund owned 514,823 shares of the financial services provider’s stock after selling 55,724 shares during the quarter. Equinix comprises about 2.2% of Daiwa Securities Group Inc.’s holdings, making the stock its 11th biggest position. Daiwa Securities Group Inc.’s holdings in Equinix were worth $485,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in Equinix during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new position in Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC purchased a new position in Equinix in the fourth quarter worth $42,000. Dunhill Financial LLC lifted its holdings in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the period. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Equinix during the 4th quarter worth $47,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. The trade was a 7.55 % 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. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

NASDAQ:EQIX opened at $859.52 on Monday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The firm has a market cap of $83.66 billion, a price-to-earnings ratio of 100.53, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company’s 50-day moving average is $923.05 and its two-hundred day moving average is $908.05. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Wall Street Analyst Weigh In

EQIX has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Truist Financial upped their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their target price on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $995.24.

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.