Russell Investments Group Ltd. Buys 35,706 Shares of Equinix, Inc. (NASDAQ:EQIX)

Russell Investments Group Ltd. raised its holdings in Equinix, Inc. (NASDAQ:EQIX) by 7.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 520,213 shares of the financial services provider’s stock after acquiring an additional 35,706 shares during the quarter. Equinix makes up about 0.7% of Russell Investments Group Ltd.’s portfolio, making the stock its 12th largest holding. Russell Investments Group Ltd. owned about 0.55% of Equinix worth $419,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Principal Financial Group Inc. increased its position in Equinix by 44.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after acquiring an additional 431,435 shares during the period. AMF Tjanstepension AB increased its position in Equinix by 332.3% in the 3rd quarter. AMF Tjanstepension AB now owns 161,998 shares of the financial services provider’s stock valued at $117,666,000 after acquiring an additional 124,524 shares during the period. Ameriprise Financial Inc. increased its position in Equinix by 27.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock valued at $313,461,000 after acquiring an additional 92,575 shares during the period. Nordea Investment Management AB increased its position in Equinix by 277.7% in the 3rd quarter. Nordea Investment Management AB now owns 123,366 shares of the financial services provider’s stock valued at $90,493,000 after acquiring an additional 90,705 shares during the period. Finally, PGGM Investments increased its position in Equinix by 54.0% in the 3rd quarter. PGGM Investments now owns 254,552 shares of the financial services provider’s stock valued at $184,871,000 after acquiring an additional 89,274 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Barclays decreased their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. BMO Capital Markets increased their price objective on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Truist Financial increased their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Morgan Stanley decreased their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $862.50.

Equinix Stock Down 0.9 %

Shares of Equinix stock traded down $6.74 during trading hours on Friday, reaching $731.61. The company’s stock had a trading volume of 779,483 shares, compared to its average volume of 563,003. Equinix, Inc. has a one year low of $672.88 and a one year high of $914.93. The company has a market capitalization of $69.22 billion, a P/E ratio of 70.96, a P/E/G ratio of 1.90 and a beta of 0.58. The stock’s fifty day simple moving average is $823.50 and its two-hundred day simple moving average is $802.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is 165.28%.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Charles J. Meyers sold 2,110 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the transaction, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at $8,422,659.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,585 shares of company stock valued at $3,818,268. Corporate insiders own 0.27% of the company’s stock.

About Equinix

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.