Equinix, Inc. $EQIX Stock Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Equinix, Inc. (NASDAQ:EQIX) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,269 shares of the financial services provider’s stock after selling 789 shares during the period. Retirement Systems of Alabama owned about 0.15% of Equinix worth $144,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Equinix during the 2nd quarter valued at approximately $11,930,074,000. Principal Financial Group Inc. lifted its holdings in Equinix by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock worth $1,941,377,000 after purchasing an additional 27,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Equinix by 26,831.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock worth $1,291,648,000 after purchasing an additional 1,234,521 shares in the last quarter. Legal & General Group Plc bought a new position in Equinix in the 2nd quarter worth approximately $1,181,260,000. Finally, Canada Pension Plan Investment Board bought a new position in Equinix in the 2nd quarter worth approximately $1,163,662,000. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christopher B. Paisley sold 125 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the sale, the director directly owned 13,734 shares in the company, valued at approximately $15,156,567.72. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total transaction of $317,748.07. Following the completion of the transaction, the insider directly owned 2,450 shares of the company’s stock, valued at approximately $2,535,774.50. The trade was a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 968 shares of company stock valued at $1,007,885 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Up 4.1%

NASDAQ EQIX opened at $1,054.50 on Tuesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $104.05 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.48 and a beta of 0.98. Equinix, Inc. has a one year low of $720.62 and a one year high of $1,128.68. The stock has a 50 day moving average price of $1,016.92 and a 200-day moving average price of $1,014.61.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $4.93 earnings per share for the quarter, topping the consensus estimate of $4.11 by $0.82. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted $9.83 earnings per share. Equinix’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Equinix, Inc. will post 39.01 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, November 18th will be paid a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix’s dividend payout ratio (DPR) is presently 123.96%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EQIX shares. Weiss Ratings raised shares of Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Canadian Imperial Bank of Commerce initiated coverage on shares of Equinix in a research note on Tuesday, October 20th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Equinix in a report on Friday, October 30th. Evercore restated an “outperform” rating and set a $1,270.00 price objective (up from $1,240.00) on shares of Equinix in a research report on Tuesday, August 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,250.00 target price on shares of Equinix in a report on Monday, November 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,234.13.

About Equinix