Commerce Bank Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Commerce Bank increased its stake in Equinix, Inc. (NASDAQ:EQIX) by 27.2% in the 4th quarter, HoldingsChannel reports. The fund owned 4,029 shares of the financial services provider’s stock after acquiring an additional 861 shares during the period. Commerce Bank’s holdings in Equinix were worth $3,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Norges Bank purchased a new position in Equinix in the fourth quarter worth about $1,574,132,000. Ameriprise Financial Inc. lifted its stake in Equinix by 27.3% in the third quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock worth $313,461,000 after purchasing an additional 92,575 shares during the last quarter. Nordea Investment Management AB lifted its stake in Equinix by 277.7% in the third quarter. Nordea Investment Management AB now owns 123,366 shares of the financial services provider’s stock worth $90,493,000 after purchasing an additional 90,705 shares during the last quarter. PGGM Investments lifted its stake in Equinix by 54.0% in the third quarter. PGGM Investments now owns 254,552 shares of the financial services provider’s stock worth $184,871,000 after purchasing an additional 89,274 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Equinix in the third quarter worth about $48,940,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 0.2 %

Shares of Equinix stock opened at $766.12 on Monday. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a market cap of $72.71 billion, a P/E ratio of 76.84, a price-to-earnings-growth ratio of 2.67 and a beta of 0.62. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50-day simple moving average of $770.84 and a two-hundred day simple moving average of $806.24.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.22%. Equinix’s dividend payout ratio is presently 170.91%.

Insider Activity at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on EQIX shares. BMO Capital Markets lifted their price target on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Truist Financial lifted their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Barclays decreased their price target on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. TD Cowen decreased their price target on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a report on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $874.44.

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.