VIRGINIA RETIREMENT SYSTEMS ET Al Sells 5,800 Shares of Equinix, Inc. $EQIX

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,804 shares of the financial services provider’s stock after selling 5,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Equinix were worth $35,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in shares of Equinix by 298,148.6% during the second quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider’s stock valued at $6,488,728,000 after acquiring an additional 8,154,365 shares during the period. Norges Bank acquired a new position in Equinix during the 2nd quarter valued at about $892,431,000. Vanguard Group Inc. boosted its stake in shares of Equinix by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 13,129,041 shares of the financial services provider’s stock valued at $10,443,758,000 after purchasing an additional 222,221 shares during the last quarter. State Street Corp boosted its stake in shares of Equinix by 3.7% in the 2nd quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock valued at $4,971,512,000 after purchasing an additional 220,981 shares during the last quarter. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Equinix during the 2nd quarter worth approximately $172,581,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Up 0.6%

NASDAQ:EQIX opened at $769.71 on Wednesday. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $964.73. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32. The stock has a market cap of $75.58 billion, a price-to-earnings ratio of 70.49, a PEG ratio of 1.56 and a beta of 1.05. The stock has a 50-day moving average price of $777.45 and a two-hundred day moving average price of $787.86.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm posted $9.05 earnings per share. Equinix’s revenue was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. As a group, equities analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th were paid a $4.69 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix’s payout ratio is presently 171.79%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective on the stock. in a report on Thursday, December 18th. Cowen reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on Equinix from $940.00 to $950.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Daiwa Capital Markets set a $917.00 target price on Equinix and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Zacks Research cut Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $953.90.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 5,087 shares of Equinix stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $778.47, for a total value of $3,960,076.89. Following the sale, the chairman owned 10,426 shares of the company’s stock, valued at $8,116,328.22. This trade represents a 32.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raouf Abdel sold 159 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $116,259.21. Following the completion of the sale, the executive vice president owned 6,584 shares in the company, valued at approximately $4,814,154.96. This trade represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,704 shares of company stock valued at $6,617,748. 0.27% of the stock is owned by corporate insiders.

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.