Dimensional Fund Advisors LP Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

Dimensional Fund Advisors LP increased its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,333,992 shares of the financial services provider’s stock after purchasing an additional 19,844 shares during the quarter. Dimensional Fund Advisors LP owned 1.41% of Equinix worth $1,009,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Swedbank AB bought a new stake in shares of Equinix in the first quarter worth approximately $294,526,000. Principal Financial Group Inc. grew its position in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares during the period. Vanguard Group Inc. raised its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares during the last quarter. M&G Plc bought a new position in shares of Equinix during the 1st quarter valued at $187,089,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Equinix in the 1st quarter worth $145,308,000. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $871.54 on Monday. The firm has a fifty day simple moving average of $811.47 and a two-hundred day simple moving average of $792.85. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $82.74 billion, a P/E ratio of 87.42, a PEG ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business posted $8.04 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.96%. Equinix’s payout ratio is presently 170.91%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EQIX shares. Deutsche Bank Aktiengesellschaft increased their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. TD Cowen lifted their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Royal Bank of Canada cut their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $883.71.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Equinix news, insider Michael Earl Campbell sold 600 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $816.73, for a total value of $490,038.00. Following the transaction, the insider now owns 14,800 shares of the company’s stock, valued at approximately $12,087,604. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 over the last three months. 0.27% of the stock is owned by insiders.

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.