Generali Asset Management SPA SGR Invests $6.07 Million in Equinix, Inc. (NASDAQ:EQIX)

Generali Asset Management SPA SGR bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,439 shares of the financial services provider’s stock, valued at approximately $6,071,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in shares of Equinix in the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Equinix in the fourth quarter worth about $39,000. Sierra Ocean LLC bought a new position in shares of Equinix in the fourth quarter worth about $42,000. Dunhill Financial LLC lifted its holdings in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new position in shares of Equinix in the fourth quarter worth about $47,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock opened at $841.26 on Wednesday. The company has a market cap of $81.88 billion, a price-to-earnings ratio of 98.39, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $908.77 and a 200-day moving average of $909.04.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts forecast 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 19th. Investors of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.23%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insider Activity at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets dropped their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company dropped their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Truist Financial dropped their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $989.35.

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.