Korea Investment CORP Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Korea Investment CORP lifted its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,999 shares of the financial services provider’s stock after buying an additional 3,508 shares during the period. Korea Investment CORP owned approximately 0.15% of Equinix worth $106,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB increased its holdings in shares of Equinix by 75.0% in the second quarter. Handelsbanken Fonder AB now owns 20,577 shares of the financial services provider’s stock valued at $16,131,000 after purchasing an additional 8,817 shares during the last quarter. Versor Investments LP acquired a new position in shares of Equinix during the 1st quarter valued at about $433,000. Credit Suisse AG grew its holdings in shares of Equinix by 4.5% in the first quarter. Credit Suisse AG now owns 293,475 shares of the financial services provider’s stock valued at $211,607,000 after purchasing an additional 12,693 shares during the period. ExodusPoint Capital Management LP increased its position in Equinix by 87.0% during the first quarter. ExodusPoint Capital Management LP now owns 4,050 shares of the financial services provider’s stock worth $2,920,000 after purchasing an additional 1,884 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co acquired a new position in Equinix in the 1st quarter valued at about $6,922,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Up 0.2 %

Shares of EQIX stock traded up $1.67 on Tuesday, reaching $786.01. 86,718 shares of the stock were exchanged, compared to its average volume of 396,606. The company has a market capitalization of $73.79 billion, a price-to-earnings ratio of 84.34, a PEG ratio of 1.52 and a beta of 0.62. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average price is $741.53 and its 200 day moving average price is $757.42. Equinix, Inc. has a twelve month low of $640.92 and a twelve month high of $821.63.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be issued a $4.26 dividend. This is a boost from Equinix’s previous quarterly dividend of $3.41. The ex-dividend date is Tuesday, November 14th. This represents a $17.04 annualized dividend and a dividend yield of 2.17%. Equinix’s dividend payout ratio is presently 183.23%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Oppenheimer raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $875.00 price target on the stock in a research report on Tuesday. StockNews.com began coverage on Equinix in a research report on Thursday, October 5th. They set a “hold” rating for the company. Raymond James boosted their price objective on shares of Equinix from $885.00 to $910.00 and gave the company a “strong-buy” rating in a report on Thursday, August 3rd. TheStreet cut shares of Equinix from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Equinix from $780.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $829.85.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 3,788 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $714.74, for a total value of $2,707,435.12. Following the completion of the sale, the insider now directly owns 11,495 shares of the company’s stock, valued at $8,215,936.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 3,788 shares of Equinix stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $714.74, for a total value of $2,707,435.12. Following the sale, the insider now owns 11,495 shares of the company’s stock, valued at $8,215,936.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Earl Campbell sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $780.66, for a total value of $468,396.00. Following the transaction, the insider now owns 12,081 shares in the company, valued at approximately $9,431,153.46. The disclosure for this sale can be found here. Insiders sold a total of 8,297 shares of company stock valued at $6,232,399 over the last ninety days. Insiders own 0.32% of the company’s stock.

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.