Retirement Systems of Alabama Buys 516 Shares of Equinix, Inc. (NASDAQ:EQIX)

Retirement Systems of Alabama raised its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 127,106 shares of the financial services provider’s stock after acquiring an additional 516 shares during the period. Retirement Systems of Alabama’s holdings in Equinix were worth $119,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after acquiring an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Equinix by 89,348.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after acquiring an additional 398,494 shares during the last quarter. Adelante Capital Management LLC lifted its holdings in shares of Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after acquiring an additional 344,114 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the last quarter. Finally, abrdn plc raised its position in Equinix by 49.2% in the 4th quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock worth $437,563,000 after purchasing an additional 153,215 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction on Tuesday, December 3rd. The stock was 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 of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,823 shares of company stock worth $16,474,442 over the last three months. Corporate insiders own 0.27% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $924.28 on Wednesday. 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 firm’s 50 day moving average price is $942.07 and its 200-day moving average price is $888.17. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a market cap of $89.18 billion, a PE ratio of 83.34, a P/E/G ratio of 2.18 and a beta of 0.72.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EQIX. Scotiabank increased their price objective on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research report on Thursday, January 23rd. Royal Bank of Canada increased their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Stifel Nicolaus increased their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Wells Fargo & Company reduced their price objective on shares of Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $996.06.

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.