Allianz SE Makes New $2.40 Million Investment in Equinix, Inc. (NASDAQ:EQIX)

Allianz SE acquired a new stake in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,561 shares of the financial services provider’s stock, valued at approximately $2,397,000.

Other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. lifted its position in Equinix by 58.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 240 shares of the financial services provider’s stock valued at $226,000 after buying an additional 89 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Equinix by 89.5% in the 4th quarter. DnB Asset Management AS now owns 34,352 shares of the financial services provider’s stock valued at $32,390,000 after acquiring an additional 16,227 shares during the period. Level Four Advisory Services LLC boosted its position in Equinix by 4.0% during the 4th quarter. Level Four Advisory Services LLC now owns 524 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 20 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Equinix by 8.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 159,718 shares of the financial services provider’s stock valued at $150,597,000 after purchasing an additional 11,949 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP purchased a new position in Equinix in the fourth quarter valued at about $5,422,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial lowered their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company cut their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix has an average rating of “Buy” and a consensus price target of $1,007.59.

Insider Activity

In related news, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares in the company, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Equinix Trading Down 2.7 %

Shares of NASDAQ:EQIX opened at $803.00 on Friday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $78.16 billion, a P/E ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a 50 day moving average of $895.96 and a 200-day moving average of $908.73.

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

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

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.