Daiwa Securities Group Inc. Has $442.62 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Daiwa Securities Group Inc. trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 549,567 shares of the financial services provider’s stock after selling 5,713 shares during the period. Equinix makes up about 2.8% of Daiwa Securities Group Inc.’s portfolio, making the stock its 7th biggest position. Daiwa Securities Group Inc.’s holdings in Equinix were worth $442,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Valley National Advisers Inc. lifted its stake in shares of Equinix by 260.0% in 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 during the last quarter. Providence Capital Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter worth approximately $29,000. Operose Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter worth approximately $36,000. Asset Dedication LLC lifted its stake in shares of Equinix by 92.6% during the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 25 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Equinix by 237.5% during the 1st quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 38 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the transaction, the executive vice president now owns 1,242 shares in the company, valued at $1,034,548.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,585 shares of company stock worth $3,818,268. 0.32% of the stock is currently owned by company insiders.

Equinix Stock Down 1.0 %

Shares of NASDAQ:EQIX traded down $7.58 on Wednesday, reaching $734.56. The company had a trading volume of 510,802 shares, compared to its average volume of 560,224. Equinix, Inc. has a 52-week low of $672.88 and a 52-week high of $914.93. The firm’s 50 day simple moving average is $840.28 and its 200-day simple moving average is $802.23. The firm has a market capitalization of $69.50 billion, a PE ratio of 71.40, a PEG ratio of 1.78 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.32%. Equinix’s dividend payout ratio is presently 165.28%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Oppenheimer raised their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Stifel Nicolaus reissued a “buy” rating and set a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Truist Financial raised their price target on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Royal Bank of Canada raised their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Morgan Stanley decreased their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $862.50.

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.