Vestcor Inc Purchases 2,163 Shares of Equinix, Inc. (NASDAQ:EQIX)

Vestcor Inc boosted its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 13.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,929 shares of the financial services provider's stock after purchasing an additional 2,163 shares during the quarter. Vestcor Inc's holdings in Equinix were worth $15,914,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider's stock worth $18,099,000 after acquiring an additional 1,716 shares in the last quarter. E. Ohman J or Asset Management AB grew its position in Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider's stock valued at $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Brookfield Corp ON grew its position in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider's stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider's stock valued at $279,516,000 after acquiring an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management increased its position in shares of Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider's stock valued at $35,462,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 222 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now owns 1,015 shares of the company's stock, valued at approximately $976,633. This represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,398 shares of company stock valued at $7,906,218 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

NASDAQ:EQIX traded down $7.26 during mid-day trading on Tuesday, reaching $961.72. 469,414 shares of the company's stock were exchanged, compared to its average volume of 530,429. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The business's fifty day simple moving average is $912.85 and its two-hundred day simple moving average is $840.99. The firm has a market capitalization of $92.80 billion, a PE ratio of 86.72, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. Equinix's payout ratio is 153.65%.

Analysts Set New Price Targets

Several research firms have weighed in on EQIX. Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research report on Monday, November 18th. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a research report on Thursday, September 12th. Wells Fargo & Company upped their target price on shares of Equinix from $985.00 to $1,100.00 and gave the company an "overweight" rating in a report on Tuesday. Cfra reiterated a "hold" rating on shares of Equinix in a report on Tuesday, September 24th. Finally, Stifel Nicolaus upped their price objective on Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $970.38.

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.