Public Employees Retirement Association of Colorado decreased its stake in shares of Equinix Inc (NASDAQ:EQIX) by 14.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 161,905 shares of the financial services provider’s stock after selling 27,728 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Equinix were worth $93,387,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its stake in Equinix by 3.9% in the second quarter. Wells Fargo & Company MN now owns 414,293 shares of the financial services provider’s stock valued at $208,924,000 after acquiring an additional 15,704 shares during the last quarter. California Public Employees Retirement System increased its holdings in Equinix by 15.4% in the 2nd quarter. California Public Employees Retirement System now owns 375,892 shares of the financial services provider’s stock valued at $189,559,000 after buying an additional 50,121 shares during the period. NuWave Investment Management LLC bought a new stake in Equinix in the 2nd quarter valued at $108,000. Landsberg Bennett & Dubbaneh LLC increased its holdings in Equinix by 43.7% in the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 2,926 shares of the financial services provider’s stock valued at $1,477,000 after buying an additional 890 shares during the period. Finally, Enlightenment Research LLC bought a new stake in Equinix in the 2nd quarter valued at $227,000. 98.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of EQIX stock traded up $7.81 on Friday, reaching $530.31. The company had a trading volume of 506,700 shares, compared to its average volume of 445,454. The company has a current ratio of 1.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.33. The stock has a market cap of $42.63 billion, a PE ratio of 25.63, a PEG ratio of 1.91 and a beta of 0.69. The company has a 50-day moving average of $567.25 and a 200-day moving average of $525.12. Equinix Inc has a 12 month low of $335.29 and a 12 month high of $609.97.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 20th will be given a $2.46 dividend. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, November 19th. Equinix’s payout ratio is currently 47.56%.
In related news, insider Brandi Galvin Morandi sold 589 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $560.67, for a total value of $330,234.63. Following the transaction, the insider now owns 15,904 shares in the company, valued at $8,916,895.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $551.24, for a total value of $110,248.00. The disclosure for this sale can be found here. Insiders sold 5,462 shares of company stock worth $3,041,825 in the last 90 days. 0.49% of the stock is owned by company insiders.
Several brokerages have issued reports on EQIX. Credit Suisse Group set a $581.00 price target on shares of Equinix and gave the company a “buy” rating in a report on Wednesday, October 9th. Nomura boosted their price target on shares of Equinix from $575.00 to $625.00 and gave the company a “buy” rating in a report on Friday, October 18th. Raymond James boosted their price target on shares of Equinix from $560.00 to $625.00 and gave the company a “strong-buy” rating in a report on Thursday, October 31st. UBS Group boosted their price target on shares of Equinix from $560.00 to $630.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Equinix in a report on Tuesday, September 10th. They issued an “overweight” rating and a $605.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $567.90.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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