State of Alaska Department of Revenue Acquires 1,420 Shares of Equinix, Inc. (NASDAQ:EQIX)

State of Alaska Department of Revenue boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,759 shares of the financial services provider’s stock after acquiring an additional 1,420 shares during the quarter. Equinix accounts for approximately 0.6% of State of Alaska Department of Revenue’s portfolio, making the stock its 18th largest holding. State of Alaska Department of Revenue owned about 0.06% of Equinix worth $54,459,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. grew its stake in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in Equinix by 100.0% in the third 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. Dunhill Financial LLC increased its position in 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 purchasing an additional 25 shares during the period. Finally, Webster Bank N. A. raised its holdings in Equinix by 112.5% in the 3rd quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 1.3 %

NASDAQ:EQIX opened at $936.50 on Thursday. The stock’s 50 day moving average price is $941.00 and its 200 day moving average price is $889.14. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a market capitalization of $90.36 billion, a PE ratio of 84.45, a P/E/G ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQIX. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets increased their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their price target on Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating on the stock in a research report on Tuesday. TD Cowen lifted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $996.06.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 4,893 shares in the company, valued at $4,518,979.08. The trade was a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,823 shares of company stock valued at $16,474,442. Corporate insiders own 0.27% of the company’s stock.

Equinix 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.