Equinix, Inc. $EQIX Position Boosted by Lasalle Investment Management Securities LLC

Lasalle Investment Management Securities LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 324,851 shares of the financial services provider’s stock after acquiring an additional 26,973 shares during the quarter. Equinix comprises about 10.0% of Lasalle Investment Management Securities LLC’s portfolio, making the stock its largest holding. Lasalle Investment Management Securities LLC owned approximately 0.33% of Equinix worth $254,436,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of EQIX. Norges Bank bought a new position in shares of Equinix during the 2nd quarter valued at about $892,431,000. JPMorgan Chase & Co. increased its holdings in shares of Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after purchasing an additional 588,967 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Equinix by 1.7% in the second quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock worth $10,443,758,000 after buying an additional 222,221 shares in the last quarter. State Street Corp boosted its stake in Equinix by 3.7% during the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after buying an additional 220,981 shares during the last quarter. Finally, ABN AMRO Bank N.V. bought a new position in Equinix during the second quarter valued at approximately $172,581,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EQIX has been the topic of a number of research reports. Wall Street Zen downgraded Equinix from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Truist Financial raised their target price on shares of Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. TD Cowen restated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, HSBC set a $1,050.00 price objective on shares of Equinix and gave the stock a “buy” rating in a research note on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,001.41.

Equinix Price Performance

EQIX stock opened at $974.26 on Friday. The stock has a market cap of $95.72 billion, a PE ratio of 70.86, a P/E/G ratio of 2.50 and a beta of 1.06. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90. The company has a 50-day moving average price of $832.07 and a 200 day moving average price of $801.08. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the company earned $7.92 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio is 150.11%.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.17, for a total value of $1,649,352.67. Following the transaction, the chief financial officer owned 26,373 shares of the company’s stock, valued at $21,208,375.41. This represents a 7.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the completion of the sale, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. The trade was a 18.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,353 shares of company stock worth $11,283,043 over the last quarter. 0.27% of the stock is owned by insiders.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.