Arizona State Retirement System Sells 148 Shares of Equinix, Inc. (NASDAQ:EQIX)

Arizona State Retirement System lessened its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,324 shares of the financial services provider’s stock after selling 148 shares during the quarter. Arizona State Retirement System’s holdings in Equinix were worth $21,201,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new position in Equinix in the 4th quarter valued at approximately $725,557,000. Principal Financial Group Inc. raised its holdings in Equinix by 44.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after acquiring an additional 431,435 shares in the last quarter. Morgan Stanley raised its holdings in Equinix by 26.5% in the 4th quarter. Morgan Stanley now owns 854,549 shares of the financial services provider’s stock valued at $559,756,000 after acquiring an additional 179,023 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Equinix by 28.3% in the 1st quarter. Wellington Management Group LLP now owns 604,277 shares of the financial services provider’s stock worth $448,144,000 after buying an additional 133,132 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Equinix by 157.5% in the 2nd quarter. Barclays PLC now owns 214,988 shares of the financial services provider’s stock worth $168,540,000 after buying an additional 131,503 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Price Performance

EQIX traded down $0.30 during trading on Friday, hitting $780.74. 48,229 shares of the stock traded hands, compared to its average volume of 551,584. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The company has a market cap of $73.87 billion, a price-to-earnings ratio of 75.76, a PEG ratio of 1.88 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day moving average price of $850.36 and a 200 day moving average price of $799.24.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.18%. Equinix’s dividend payout ratio is currently 165.28%.

Insider Buying and Selling at Equinix

In other news, CEO Charles J. Meyers sold 7,174 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $800.18, for a total transaction of $5,740,491.32. Following the completion of the transaction, the chief executive officer now directly owns 16,360 shares in the company, valued at $13,090,944.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Michael Earl Campbell sold 2,199 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $799.92, for a total value of $1,759,024.08. Following the sale, the insider now owns 14,067 shares of the company’s stock, valued at $11,252,474.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Charles J. Meyers sold 7,174 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $800.18, for a total transaction of $5,740,491.32. Following the completion of the sale, the chief executive officer now directly owns 16,360 shares in the company, valued at approximately $13,090,944.80. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock worth $14,788,771 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the subject of a number of recent research reports. Oppenheimer increased their target price on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Wells Fargo & Company increased their target price on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. BMO Capital Markets increased their target price on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $960.00 target price on shares of Equinix in a report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $868.72.

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.