Arizona State Retirement System Raises Holdings in Equinix, Inc. (NASDAQ:EQIX)

Arizona State Retirement System boosted its position in Equinix, Inc. (NASDAQ:EQIX) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,513 shares of the financial services provider’s stock after purchasing an additional 572 shares during the quarter. Arizona State Retirement System’s holdings in Equinix were worth $20,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. lifted its stake in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after buying an additional 238,815 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Equinix by 0.5% in the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after purchasing an additional 13,988 shares in the last quarter. Norges Bank acquired a new position in shares of Equinix during the 4th quarter worth approximately $1,574,132,000. Principal Financial Group Inc. grew its position in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after purchasing an additional 47,795 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 0.5 %

NASDAQ:EQIX opened at $817.96 on Friday. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The stock’s fifty day moving average is $800.75 and its two-hundred day moving average is $794.48. The stock has a market capitalization of $77.63 billion, a price-to-earnings ratio of 82.04, a price-to-earnings-growth ratio of 2.03 and a beta of 0.68. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.04 EPS. Research analysts anticipate that Equinix, Inc. will post 31.04 EPS for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Insider Activity at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,472 shares of company stock worth $6,154,812. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EQIX. Royal Bank of Canada lowered their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Mizuho initiated coverage on shares of Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target on the stock. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. TD Cowen boosted their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Barclays raised their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $876.71.

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.