Equinix, Inc. (NASDAQ:EQIX) Stock Position Lifted by Arizona State Retirement System

Arizona State Retirement System grew its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,383 shares of the financial services provider’s stock after buying an additional 208 shares during the quarter. Arizona State Retirement System’s holdings in Equinix were worth $25,819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. State Street Corp raised its stake in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Equinix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after acquiring an additional 33,277 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after acquiring an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Equinix by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock valued at $1,107,860,000 after buying an additional 40,791 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $921.02 on Thursday. The firm’s 50-day moving average price is $926.24 and its 200-day moving average price is $906.92. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a market capitalization of $89.64 billion, a P/E ratio of 107.72, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EQIX. Oppenheimer boosted their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Truist Financial boosted their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays upped their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, Scotiabank upped their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average target price of $995.24.

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.