National Pension Service Boosts Stake in Equinix, Inc. (NASDAQ:EQIX)

National Pension Service lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,642 shares of the financial services provider’s stock after purchasing an additional 6,530 shares during the quarter. National Pension Service owned about 0.22% of Equinix worth $166,427,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aew Capital Management L P lifted its stake in Equinix by 0.8% during 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 acquiring an additional 2,503 shares in the last quarter. Braun Stacey Associates Inc. raised its stake in shares of Equinix by 12.5% in the fourth quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider’s stock valued at $25,938,000 after acquiring an additional 3,591 shares in the last quarter. Nordea Investment Management AB grew its stake in Equinix by 9.8% during the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider’s stock worth $109,459,000 after purchasing an additional 12,129 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in Equinix by 127.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider’s stock worth $1,130,000 after purchasing an additional 787 shares in the last quarter. Finally, TIAA Trust National Association raised its stake in Equinix by 126.8% in the fourth quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider’s stock valued at $3,417,000 after buying an additional 2,372 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now owns 23,187 shares in the company, valued at $19,314,307.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at $19,314,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at $8,422,659.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of EQIX stock traded down $19.16 during mid-day trading on Wednesday, hitting $692.71. The stock had a trading volume of 875,729 shares, compared to its average volume of 599,941. The firm has a market cap of $65.54 billion, a PE ratio of 67.19, a PEG ratio of 1.81 and a beta of 0.62. The company’s 50-day simple moving average is $800.46 and its 200-day simple moving average is $802.10. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix, Inc. has a fifty-two week low of $672.88 and a fifty-two week high of $914.93.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.46%. Equinix’s payout ratio is currently 165.28%.

Analyst Ratings Changes

Several equities analysts have commented on EQIX shares. Barclays dropped their price target on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. 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. BMO Capital Markets lifted their target price on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Truist Financial boosted their target price on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Royal Bank of Canada raised their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Seven equities research 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $870.44.

Equinix Company 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.