Arizona State Retirement System Has $25.82 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

Arizona State Retirement System increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,383 shares of the financial services provider’s stock after buying an additional 208 shares during the period. Arizona State Retirement System’s holdings in Equinix were worth $25,819,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Equinix in the fourth quarter valued at $246,000. M&T Bank Corp increased its holdings in shares of Equinix by 2.3% in the fourth quarter. M&T Bank Corp now owns 15,038 shares of the financial services provider’s stock valued at $14,179,000 after purchasing an additional 339 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Equinix in the fourth quarter valued at $39,000. Laffer Tengler Investments Inc. increased its holdings in shares of Equinix by 9.6% in the fourth quarter. Laffer Tengler Investments Inc. now owns 2,955 shares of the financial services provider’s stock valued at $2,786,000 after purchasing an additional 259 shares during the last quarter. Finally, Keybank National Association OH boosted its position in shares of Equinix by 7.4% in the fourth quarter. Keybank National Association OH now owns 3,414 shares of the financial services provider’s stock valued at $3,219,000 after acquiring an additional 235 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQIX has been the subject of a number of recent research reports. Barclays boosted their target price 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. Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $995.24.

Equinix Trading Up 1.2 %

Shares of NASDAQ:EQIX opened at $921.02 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The business’s 50-day moving average is $926.24 and its 200 day moving average is $906.92. The firm has a market capitalization of $89.64 billion, a P/E ratio of 107.72, a P/E/G ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Insider Activity at Equinix

In other Equinix news, CFO Keith D. Taylor sold 2,454 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the transaction, the chief financial officer now owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. This trade represents a 9.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,054 shares of company stock worth $17,466,950. Company insiders own 0.27% of the company’s stock.

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.