Retirement Systems of Alabama Has $62.03 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Retirement Systems of Alabama decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,022 shares of the financial services provider’s stock after selling 467 shares during the period. Retirement Systems of Alabama owned approximately 0.08% of Equinix worth $62,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EQIX. Paradigm Financial Partners LLC boosted its stake in Equinix by 5.6% in the 4th quarter. Paradigm Financial Partners LLC now owns 3,841 shares of the financial services provider’s stock worth $3,094,000 after purchasing an additional 204 shares during the period. PGGM Investments boosted its stake in Equinix by 4.4% in the 4th quarter. PGGM Investments now owns 265,852 shares of the financial services provider’s stock worth $214,115,000 after purchasing an additional 11,300 shares during the period. Russell Investments Group Ltd. boosted its stake in Equinix by 7.4% in the 4th quarter. Russell Investments Group Ltd. now owns 520,213 shares of the financial services provider’s stock worth $419,422,000 after purchasing an additional 35,706 shares during the period. Truist Financial Corp boosted its stake in Equinix by 106.4% in the 4th quarter. Truist Financial Corp now owns 37,603 shares of the financial services provider’s stock worth $30,285,000 after purchasing an additional 19,388 shares during the period. Finally, Aew Capital Management L P boosted its stake in Equinix by 0.8% in the 4th quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider’s stock worth $250,286,000 after purchasing an additional 2,503 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares in the company, valued at approximately $8,422,659.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares in the company, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold a total of 4,585 shares of company stock valued at $3,818,268 in the last three months. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EQIX shares. Royal Bank of Canada upped their target price on shares of Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus restated a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Wells Fargo & Company increased their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. Finally, HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a research note on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $862.50.

Equinix Stock Performance

Shares of EQIX stock traded down $6.74 on Friday, reaching $731.61. The stock had a trading volume of 779,483 shares, compared to its average volume of 563,003. The firm has a market capitalization of $69.23 billion, a price-to-earnings ratio of 70.96, a P/E/G ratio of 1.89 and a beta of 0.58. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The firm’s 50-day moving average is $823.50 and its two-hundred day moving average is $803.06.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a yield of 2.33%. Equinix’s dividend payout ratio is currently 165.28%.

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.