California Public Employees Retirement System cut its holdings in shares of Equinix, Inc. (NASDAQ:EQIX – Free Report) by 8.2% in the first quarter, HoldingsChannel reports. The firm owned 188,843 shares of the financial services provider’s stock after selling 16,771 shares during the period. California Public Employees Retirement System’s holdings in Equinix were worth $185,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the stock. Avion Wealth boosted its stake in shares of Equinix by 73.3% in the first quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after buying an additional 11 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Equinix in the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC boosted its position in Equinix by 200.0% in the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 28 shares in the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 24 shares in the last quarter. Finally, WPG Advisers LLC lifted its stake in shares of Equinix by 51.7% in the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.
Equinix Stock Up 1.1%
EQIX opened at $1,020.00 on Friday. The company has a market cap of $100.59 billion, a PE ratio of 70.59, a price-to-earnings-growth ratio of 1.89 and a beta of 0.98. Equinix, Inc. has a twelve month low of $720.62 and a twelve month high of $1,128.68. The company has a 50-day moving average price of $1,060.68 and a 200 day moving average price of $976.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.39.
Equinix Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were given a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Equinix’s payout ratio is presently 142.84%.
Insider Transactions at Equinix
In related news, EVP Raouf Abdel sold 2,040 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $1,083.47, for a total value of $2,210,278.80. Following the completion of the transaction, the executive vice president directly owned 5,728 shares of the company’s stock, valued at approximately $6,206,116.16. This represents a 26.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 3,726 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the completion of the transaction, the insider owned 6,132 shares in the company, valued at $6,600,239.52. The trade was a 37.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,115 shares of company stock valued at $12,022,574 over the last ninety days. Company insiders own 0.27% of the company’s stock.
Analyst Ratings Changes
EQIX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,207.00 price objective on shares of Equinix in a research report on Tuesday, May 5th. The Goldman Sachs Group lifted their price target on Equinix from $894.00 to $1,015.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 8th. Oppenheimer reissued an “outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, April 30th. Finally, Barclays upped their target price on Equinix from $1,109.00 to $1,130.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $1,155.64.
Get Our Latest Stock Analysis on EQIX
Equinix Company Profile
Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.
Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.
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