Ontario Teachers Pension Plan Board Invests $306,000 in Equinix, Inc. (NASDAQ:EQIX)

Ontario Teachers Pension Plan Board bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 325 shares of the financial services provider's stock, valued at approximately $306,000.

Several other institutional investors also recently modified their holdings of EQIX. Kestra Investment Management LLC bought a new position in Equinix during the fourth quarter valued at $31,000. J.Safra Asset Management Corp bought a new position in Equinix during the fourth quarter valued at $39,000. Sierra Ocean LLC bought a new position in Equinix during the fourth quarter valued at $42,000. Thompson Investment Management Inc. bought a new position in Equinix during the fourth quarter valued at $47,000. Finally, Key Financial Inc grew its holdings in Equinix by 30.4% during the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 14 shares during the period. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EQIX shares. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 5th. JMP Securities restated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Cfra Research upgraded Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Finally, Citigroup lowered their price objective on Equinix from $1,020.00 to $970.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Equinix has a consensus rating of "Buy" and an average price target of $1,004.94.

Insider Activity

In other news, CFO Keith D. Taylor sold 2,454 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the transaction, the chief financial officer now directly owns 24,402 shares of the company's stock, valued at approximately $22,677,754.68. This trade represents a 9.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 215 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares in the company, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is currently owned by insiders.

Equinix Price Performance

EQIX traded up $19.56 during trading on Wednesday, reaching $810.68. The stock had a trading volume of 153,102 shares, compared to its average volume of 551,218. The stock has a market cap of $79.30 billion, a PE ratio of 94.82, a PEG ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The business has a 50-day moving average of $841.89 and a 200-day moving average of $896.22.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio (DPR) is 219.42%.

Equinix Company 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.