Equinix, Inc. (NASDAQ:EQIX) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in Equinix, Inc. (NASDAQ:EQIX) by 17.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,149 shares of the financial services provider’s stock after buying an additional 1,990 shares during the period. Public Sector Pension Investment Board’s holdings in Equinix were worth $9,949,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EQIX. Vanguard Group Inc. boosted its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. Cohen & Steers Inc. boosted its position in Equinix by 0.5% during 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 acquiring an additional 13,988 shares during the period. Principal Financial Group Inc. grew its stake 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 worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Equinix by 3.6% during 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 period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Mizuho raised their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. TD Cowen upped their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 target price for the company. Finally, Truist Financial boosted their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on 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 owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by corporate insiders.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $881.92 on Tuesday. The company has a market cap of $83.70 billion, a P/E ratio of 88.46, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company’s fifty day moving average is $821.97 and its two-hundred day moving average is $791.59. 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, Inc. has a 12-month low of $677.80 and a 12-month high of $914.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company earned $8.04 earnings per share. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

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.