Equinix, Inc. $EQIX Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.5% during the third quarter, HoldingsChannel reports. The fund owned 143,269 shares of the financial services provider’s stock after selling 789 shares during the quarter. Retirement Systems of Alabama’s holdings in Equinix were worth $144,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EQIX. Moore Capital Management LP raised its position in Equinix by 235.7% in the 2nd quarter. Moore Capital Management LP now owns 7,675 shares of the financial services provider’s stock worth $8,000,000 after purchasing an additional 5,389 shares during the period. Legal & General Group Plc purchased a new position in shares of Equinix during the second quarter valued at approximately $1,181,260,000. Bamco Inc. NY purchased a new position in shares of Equinix during the second quarter valued at approximately $203,930,000. Empowered Funds LLC purchased a new position in shares of Equinix during the second quarter valued at approximately $5,778,000. Finally, Corient Private Wealth LP grew its stake in shares of Equinix by 20.9% during the second quarter. Corient Private Wealth LP now owns 12,597 shares of the financial services provider’s stock valued at $13,132,000 after buying an additional 2,181 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EQIX. Royal Bank Of Canada increased their price target on Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Scotiabank restated a “sector perform” rating and set a $1,208.00 price objective on shares of Equinix in a report on Thursday, July 30th. BNP Paribas Exane cut their price objective on Equinix from $1,222.00 to $1,219.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Barclays upped their price objective on Equinix from $1,130.00 to $1,135.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings upgraded Equinix from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $1,234.13.

Equinix Price Performance

Equinix stock opened at $1,054.50 on Tuesday. The stock has a market cap of $104.05 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.29 and a quick ratio of 1.29. Equinix, Inc. has a 1 year low of $720.62 and a 1 year high of $1,128.68. The firm has a 50-day moving average of $1,016.92 and a two-hundred day moving average of $1,014.61.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, topping analysts’ consensus estimates of $4.11 by $0.82. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.56 billion. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.83 EPS. On average, research analysts forecast that Equinix, Inc. will post 39.01 earnings per share for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 18th will be issued a $5.16 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.0%. Equinix’s payout ratio is presently 123.96%.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the transaction, the director directly owned 13,734 shares in the company, valued at $15,156,567.72. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of Equinix stock in a transaction on Friday, September 4th. The shares were sold at an average price of $1,035.01, for a total value of $317,748.07. Following the sale, the insider directly owned 2,450 shares of the company’s stock, valued at approximately $2,535,774.50. This trade represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 968 shares of company stock worth $1,007,885. Company insiders own 0.27% of the company’s stock.

Equinix Company Profile