State of New Jersey Common Pension Fund D raised its stake in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,514 shares of the financial services provider’s stock after buying an additional 4,427 shares during the period. State of New Jersey Common Pension Fund D owned about 0.12% of Equinix worth $75,010,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. MV Capital Management Inc. grew its position in shares of Equinix by 50.0% in the 4th quarter. MV Capital Management Inc. now owns 48 shares of the financial services provider’s stock valued at $31,000 after buying an additional 16 shares during the last quarter. Guardian Wealth Advisors LLC bought a new stake in shares of Equinix during the 3rd quarter valued at about $32,000. Accurate Wealth Management LLC bought a new stake in shares of Equinix during the 4th quarter valued at about $40,000. JDM Financial Group LLC bought a new stake in shares of Equinix during the 4th quarter valued at about $43,000. Finally, Center for Financial Planning Inc. boosted its position in shares of Equinix by 285.0% during the 4th quarter. Center for Financial Planning Inc. now owns 77 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.
Equinix Stock Down 2.8 %
Shares of EQIX stock traded down $20.03 during trading hours on Friday, reaching $688.68. The company had a trading volume of 354,763 shares, compared to its average volume of 405,552. Equinix, Inc. has a 12 month low of $494.89 and a 12 month high of $776.35. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.80 and a quick ratio of 1.80. The business has a fifty day simple moving average of $701.43 and a 200-day simple moving average of $662.66. The company has a market cap of $64.40 billion, a price-to-earnings ratio of 89.67, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63.
Equinix (NASDAQ:EQIX – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The financial services provider reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $5.90 by ($4.51). The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.86 billion. Equinix had a return on equity of 6.37% and a net margin of 9.70%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $6.22 earnings per share. On average, research analysts expect that Equinix, Inc. will post 27.53 earnings per share for the current fiscal year.
Equinix Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Investors of record on Tuesday, March 7th were issued a dividend of $3.41 per share. This is a positive change from Equinix’s previous quarterly dividend of $3.10. This represents a $13.64 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, March 6th. Equinix’s dividend payout ratio (DPR) is 177.60%.
Insider Buying and Selling
In related news, Chairman Camp Peter Van sold 462 shares of Equinix stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $708.61, for a total transaction of $327,377.82. Following the sale, the chairman now directly owns 7,416 shares in the company, valued at $5,255,051.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equinix news, EVP Jonathan Lin sold 233 shares of the firm’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $715.12, for a total value of $166,622.96. Following the completion of the sale, the executive vice president now directly owns 6,015 shares of the company’s stock, valued at $4,301,446.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Camp Peter Van sold 462 shares of the firm’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $708.61, for a total value of $327,377.82. Following the completion of the sale, the chairman now directly owns 7,416 shares of the company’s stock, valued at $5,255,051.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,971 shares of company stock worth $14,666,488. 0.32% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several brokerages recently commented on EQIX. Morgan Stanley cut their target price on Equinix from $704.00 to $702.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 15th. BMO Capital Markets upgraded Equinix from a “market perform” rating to an “outperform” rating and upped their target price for the company from $755.00 to $785.00 in a research report on Monday, March 27th. Oppenheimer upped their target price on Equinix from $750.00 to $760.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Raymond James upped their price target on Equinix from $800.00 to $825.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Equinix from $725.00 to $760.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $780.94.
Equinix Profile
Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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