ING Groep NV Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

ING Groep NV lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 358.2% in the third quarter, Holdings Channel.com reports. The firm owned 12,698 shares of the financial services provider’s stock after purchasing an additional 9,927 shares during the quarter. ING Groep NV’s holdings in Equinix were worth $11,271,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC boosted its stake in Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after buying an additional 398,494 shares in the last quarter. Swedbank AB purchased a new stake in shares of Equinix in the 1st quarter valued at $294,526,000. Principal Financial Group Inc. boosted its stake in shares of 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 valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 238,815 shares during the last quarter. Finally, M&G Plc purchased a new position in Equinix in the 1st quarter worth $187,089,000. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the transaction, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,654 shares of company stock worth $11,577,656. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

Equinix stock opened at $898.12 on Friday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The stock has a market cap of $86.66 billion, a price-to-earnings ratio of 80.98, a PEG ratio of 2.26 and a beta of 0.71. The stock’s 50 day simple moving average is $882.45 and its two-hundred day simple moving average is $815.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.90%. Equinix’s payout ratio is 153.65%.

Analyst Upgrades and Downgrades

EQIX has been the topic of a number of recent research reports. TD Cowen raised their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company upped their price target on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $944.63.

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.