Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Position in Equinix, Inc. (NASDAQ:EQIX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,884 shares of the financial services provider's stock after acquiring an additional 14,624 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Equinix worth $48,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC bought a new stake in shares of Equinix during the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new position in Equinix during the 4th quarter valued at about $39,000. Sierra Ocean LLC acquired a new position in Equinix during the 4th quarter valued at about $42,000. Dunhill Financial LLC increased its holdings in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after purchasing an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. purchased a new stake in shares of Equinix in the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Truist Financial dropped their price target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada increased their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $990.06.

Remove Ads

Equinix Stock Performance

Shares of EQIX traded up $17.85 during trading hours on Monday, hitting $852.44. The company's stock had a trading volume of 745,799 shares, compared to its average volume of 520,711. The business has a 50 day simple moving average of $902.62 and a two-hundred day simple moving average of $909.60. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $82.97 billion, a price-to-earnings ratio of 99.70, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating 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%. On average, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.20%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio is presently 219.42%.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the transaction, the director now directly owns 17,669 shares of the company's stock, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the business's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares of the company's stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,054 shares of company stock worth $17,466,950. Corporate insiders own 0.27% of the company's stock.

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.