Retirement Systems of Alabama Lowers Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Retirement Systems of Alabama decreased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 126,590 shares of the financial services provider's stock after selling 5,026 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Equinix worth $112,365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQIX. Oddo BHF Asset Management Sas acquired a new position in shares of Equinix during the 3rd quarter valued at about $2,483,000. Inspire Trust Co. N.A. raised its stake in Equinix by 0.7% during the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock worth $1,509,000 after purchasing an additional 11 shares during the period. Tidal Investments LLC boosted its holdings in Equinix by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock valued at $22,880,000 after purchasing an additional 2,940 shares during the last quarter. Cim Investment Management Inc. grew its stake in shares of Equinix by 31.4% in the 3rd quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider's stock valued at $3,261,000 after buying an additional 879 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Equinix during the 3rd quarter worth approximately $582,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on EQIX shares. Truist Financial upped their price objective on Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Royal Bank of Canada increased their price target on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a report on Wednesday. HSBC upgraded shares of Equinix from a "hold" rating to a "buy" rating and boosted their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an "outperform" rating in a research note on Thursday, September 12th. Finally, Hsbc Global Res raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $976.81.

Insider Buying and Selling

In other news, CFO Keith D. Taylor sold 1,500 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,398 shares of company stock worth $7,906,218. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Down 1.1 %

Shares of Equinix stock traded down $10.30 on Friday, reaching $965.00. 394,531 shares of the company were exchanged, compared to its average volume of 528,252. The stock's 50 day moving average price is $918.14 and its 200-day moving average price is $844.20. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a market cap of $93.11 billion, a P/E ratio of 88.11, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.77%. Equinix's dividend payout ratio (DPR) is currently 153.65%.

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.