Svenska Handelsbanken AB publ Acquires Shares of 37,982 Equinix, Inc. (NASDAQ:EQIX)

Svenska Handelsbanken AB publ bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 37,982 shares of the financial services provider’s stock, valued at approximately $31,348,000. Equinix accounts for about 9.9% of Svenska Handelsbanken AB publ’s investment portfolio, making the stock its 4th biggest holding.

A number of other large investors have also recently made changes to their positions in EQIX. Valley National Advisers Inc. raised its position in Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Equinix in the fourth quarter valued at about $32,000. Rise Advisors LLC bought a new stake in shares of Equinix in the first quarter valued at about $39,000. Anchor Investment Management LLC purchased a new stake in Equinix in the fourth quarter worth about $49,000. Finally, CVA Family Office LLC bought a new position in Equinix during the 4th quarter worth about $60,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of NASDAQ EQIX traded down $7.38 during midday trading on Wednesday, reaching $749.00. The company had a trading volume of 236,190 shares, compared to its average volume of 594,707. The stock has a market cap of $71.09 billion, a P/E ratio of 75.13, a P/E/G ratio of 2.63 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The business’s 50-day simple moving average is $755.84 and its 200 day simple moving average is $799.46.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.28%. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Royal Bank of Canada reduced their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Morgan Stanley dropped their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a research report on Wednesday, March 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $872.33.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, 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. Company 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.