Equinix, Inc. (NASDAQ:EQIX) Holdings Raised by Vestcor Inc

Vestcor Inc grew its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,724 shares of the financial services provider's stock after purchasing an additional 1,795 shares during the quarter. Vestcor Inc's holdings in Equinix were worth $18,598,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the 4th quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the 4th quarter valued at about $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix in the 4th quarter valued at about $42,000. Dunhill Financial LLC grew its position in shares of Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new stake in shares of Equinix during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity at Equinix

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 22,076 shares of the company's stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by corporate insiders.

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Equinix Price Performance

EQIX stock traded up $3.73 on Friday, hitting $837.68. 695,337 shares of the company's stock traded hands, compared to its average volume of 586,035. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a market cap of $81.53 billion, a price-to-earnings ratio of 97.97, a P/E/G ratio of 1.78 and a beta of 0.74. The stock has a fifty day moving average of $912.40 and a 200-day moving average of $908.06. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, 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 will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio is 219.42%.

Analyst Ratings Changes

EQIX has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an "equal weight" rating in a research report on Monday, November 18th. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Truist Financial decreased their target price on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Scotiabank upped their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Finally, Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Equinix currently has a consensus rating of "Buy" and an average target price of $989.35.

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.