Treasurer of the State of North Carolina Purchases 916 Shares of Equinix, Inc. (NASDAQ:EQIX)

Treasurer of the State of North Carolina raised its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,545 shares of the financial services provider's stock after purchasing an additional 916 shares during the quarter. Treasurer of the State of North Carolina's holdings in Equinix were worth $41,058,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Equinix during the fourth quarter worth $31,000. J.Safra Asset Management Corp acquired a new stake in Equinix during the fourth quarter worth about $39,000. Sierra Ocean LLC acquired a new position in Equinix during the 4th quarter valued at approximately $42,000. Thompson Investment Management Inc. acquired a new position in shares of Equinix during the fourth quarter valued at $47,000. Finally, Key Financial Inc increased its stake in shares of Equinix by 30.4% in 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 currently owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 3,184 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the transaction, the chief financial officer now directly owns 22,076 shares of the company's stock, valued at $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the company's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares of the company's stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent analyst reports. Oppenheimer increased their price objective on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. BMO Capital Markets decreased their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Finally, Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $1,007.59.

Equinix Stock Up 0.8 %

Shares of EQIX stock traded up $6.15 during trading on Tuesday, hitting $790.02. 138,841 shares of the company were exchanged, compared to its average volume of 553,502. The business's 50-day simple moving average is $860.01 and its 200 day simple moving average is $900.38. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market capitalization of $76.89 billion, a price-to-earnings ratio of 92.40, a P/E/G 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 (NASDAQ:EQIX - Get Free Report) last issued its earnings results 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 net margin of 9.32% and a return on equity of 6.31%. As a group, analysts forecast that Equinix, Inc. will post 33.1 EPS 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 paid a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.37%. 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.