Retirement Systems of Alabama Sells 5,026 Shares of Equinix, Inc. (NASDAQ:EQIX)

Retirement Systems of Alabama reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,590 shares of the financial services provider’s stock after selling 5,026 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Equinix worth $112,365,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 buying an additional 813,666 shares during the period. Pathway Financial Advisers LLC increased its stake in Equinix by 89,348.4% in the third 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 raised its position in Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock valued at $238,133,000 after purchasing an additional 160,906 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now owns 17,794 shares of the company’s stock, valued at $15,854,454. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. This represents a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,398 shares of company stock valued at $7,906,218 in the last three months. Company insiders own 0.27% of the company’s stock.

Equinix Stock Up 0.2 %

EQIX stock opened at $976.99 on Friday. The stock has a 50-day simple moving average of $918.14 and a two-hundred day simple moving average of $844.20. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market capitalization of $94.27 billion, a PE ratio of 87.94, a PEG ratio of 2.51 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.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

Wall Street Analyst Weigh In

EQIX has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Truist Financial lifted their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. TD Cowen raised their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and an average price target of $976.81.

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.