Equinix Inc. (EQIX) Position Increased by Retirement Systems of Alabama
Retirement Systems of Alabama raised its stake in shares of Equinix Inc. (NASDAQ:EQIX) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,395 shares of the company’s stock after buying an additional 538 shares during the period. Retirement Systems of Alabama owned 0.05% of Equinix worth $13,724,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of EQIX. IFP Advisors Inc increased its stake in Equinix by 0.6% in the first quarter. IFP Advisors Inc now owns 310 shares of the company’s stock worth $103,000 after buying an additional 2 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in Equinix by 5.6% in the second quarter. Integrated Investment Consultants LLC now owns 284 shares of the company’s stock worth $110,000 after buying an additional 15 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Equinix during the first quarter worth about $142,000. Park Avenue Institutional Advisers LLC increased its stake in Equinix by 7.7% in the first quarter. Park Avenue Institutional Advisers LLC now owns 432 shares of the company’s stock worth $143,000 after buying an additional 31 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new stake in Equinix during the second quarter worth about $161,000. 99.86% of the stock is currently owned by institutional investors.
Shares of Equinix Inc. (NASDAQ:EQIX) traded up 0.08% on Friday, reaching $360.25. The company had a trading volume of 611,349 shares. The company has a 50 day moving average of $364.94 and a 200-day moving average of $356.52. The company has a market capitalization of $25.60 billion, a P/E ratio of 355.63 and a beta of 0.80. Equinix Inc. has a 52 week low of $255.45 and a 52 week high of $391.07.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $3.64 by $3.08. The business earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The company’s revenue was up 35.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts predict that Equinix Inc. will post $14.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Wednesday, August 24th were given a $1.75 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $7.00 annualized dividend and a yield of 1.94%. Equinix’s payout ratio is 654.21%.
EQIX has been the topic of a number of research reports. Barclays PLC lifted their price objective on Equinix from $340.00 to $360.00 in a research note on Tuesday, June 21st. Jefferies Group reiterated a “buy” rating and issued a $380.00 target price on shares of Equinix in a report on Wednesday, July 6th. Zacks Investment Research upgraded Equinix from a “hold” rating to a “buy” rating and set a $433.00 target price for the company in a report on Tuesday, July 5th. Goldman Sachs Group Inc. assumed coverage on Equinix in a report on Tuesday, July 5th. They issued a “buy” rating and a $435.00 target price for the company. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Equinix in a report on Sunday, June 26th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $398.79.
In other news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $367.34, for a total transaction of $367,340.00. Following the completion of the transaction, the chief financial officer now directly owns 44,444 shares in the company, valued at $16,326,058.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Keith D. Taylor sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $362.41, for a total value of $906,025.00. Following the transaction, the chief financial officer now owns 41,878 shares of the company’s stock, valued at $15,177,005.98. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate insiders.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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