National Pension Service Buys 18,501 Shares of Equinix, Inc. (NASDAQ:EQIX)

National Pension Service raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 8.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 239,985 shares of the financial services provider’s stock after purchasing an additional 18,501 shares during the quarter. National Pension Service’s holdings in Equinix were worth $213,018,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Equinix during the 1st quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix during the 2nd quarter valued at about $30,000. GHP Investment Advisors Inc. boosted its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its position in shares of Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock opened at $892.36 on Monday. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The firm’s 50 day moving average is $869.56 and its 200-day moving average is $806.75. The firm has a market capitalization of $86.10 billion, a price-to-earnings ratio of 80.10, a PEG ratio of 2.18 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.04 earnings per share. Sell-side analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Buying and Selling

In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares in the company, valued at approximately $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,906 shares of company stock valued at $9,071,764 over the last ninety days. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

EQIX has been the topic of several recent research reports. Mizuho lifted their target price 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. TD Cowen lifted their target price on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $944.63.

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.