Retirement Systems of Alabama Cuts Stake in Equinix Inc (EQIX)

Retirement Systems of Alabama lowered its holdings in Equinix Inc (NASDAQ:EQIX) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,665 shares of the financial services provider’s stock after selling 590 shares during the quarter. Retirement Systems of Alabama’s holdings in Equinix were worth $15,872,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bridgeworth LLC acquired a new stake in shares of Equinix in the second quarter worth $100,000. We Are One Seven LLC acquired a new stake in shares of Equinix in the third quarter worth $204,000. First Allied Advisory Services Inc. acquired a new stake in Equinix during the second quarter valued at $206,000. Park Avenue Securities LLC acquired a new stake in Equinix during the second quarter valued at $214,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Equinix during the third quarter valued at $235,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

In other news, CFO Keith D. Taylor sold 2,000 shares of Equinix stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $431.65, for a total value of $863,300.00. Following the sale, the chief financial officer now owns 21,141 shares in the company, valued at $9,125,512.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 250 shares of Equinix stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $433.24, for a total transaction of $108,310.00. Following the completion of the sale, the insider now owns 1,427 shares in the company, valued at approximately $618,233.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,566 shares of company stock worth $1,528,778. Company insiders own 0.51% of the company’s stock.



EQIX has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research report on Tuesday, July 3rd. Credit Suisse Group set a $525.00 price target on shares of Equinix and gave the company a “buy” rating in a research report on Friday, July 6th. Stifel Nicolaus initiated coverage on shares of Equinix in a research report on Tuesday, July 17th. They set a “buy” rating and a $500.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Equinix in a research report on Tuesday, July 17th. They set an “outperform” rating and a $526.00 price target on the stock. Finally, BidaskClub lowered shares of Equinix from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $507.76.

Shares of NASDAQ EQIX opened at $385.22 on Monday. Equinix Inc has a 52-week low of $370.79 and a 52-week high of $495.35. The stock has a market capitalization of $30.63 billion, a PE ratio of 18.91, a P/E/G ratio of 1.27 and a beta of 0.46. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.60.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.08). Equinix had a net margin of 5.71% and a return on equity of 7.22%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $2.80 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Research analysts predict that Equinix Inc will post 18.58 earnings per share for the current fiscal year.

Equinix 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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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