Public Employees Retirement Association of Colorado reduced its stake in Equinix, Inc. (REIT) (NASDAQ:EQIX) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,226 shares of the financial services provider’s stock after selling 489 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Equinix were worth $113,348,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Equinix by 1.4% during the second quarter. Vanguard Group Inc. now owns 11,515,195 shares of the financial services provider’s stock worth $9,242,096,000 after purchasing an additional 157,749 shares during the period. BlackRock Inc. grew its position in shares of Equinix by 9.1% during the second quarter. BlackRock Inc. now owns 7,983,827 shares of the financial services provider’s stock worth $6,407,816,000 after buying an additional 665,274 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Equinix by 2.1% during the first quarter. Cohen & Steers Inc. now owns 2,105,039 shares of the financial services provider’s stock worth $1,430,542,000 after buying an additional 43,671 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Equinix by 5.8% during the second quarter. Geode Capital Management LLC now owns 1,681,359 shares of the financial services provider’s stock worth $1,345,942,000 after buying an additional 91,474 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Equinix by 19.1% during the second quarter. Principal Financial Group Inc. now owns 1,452,887 shares of the financial services provider’s stock worth $1,166,087,000 after buying an additional 233,188 shares in the last quarter. Hedge funds and other institutional investors own 93.80% of the company’s stock.
Shares of EQIX traded up $9.23 during trading hours on Thursday, reaching $772.68. 6,605 shares of the company traded hands, compared to its average volume of 551,643. The stock has a fifty day simple moving average of $823.40 and a 200 day simple moving average of $783.12. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.28. Equinix, Inc. has a fifty-two week low of $586.73 and a fifty-two week high of $885.26. The stock has a market capitalization of $69.35 billion, a PE ratio of 200.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.30.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Investors of record on Wednesday, August 18th were issued a dividend of $2.87 per share. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $11.48 annualized dividend and a dividend yield of 1.49%. Equinix’s payout ratio is currently 46.37%.
A number of brokerages have recently commented on EQIX. Credit Suisse Group downgraded Equinix from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $942.00 to $731.00 in a research report on Tuesday, October 5th. TD Securities upped their price target on Equinix from $850.00 to $875.00 and gave the company a “hold” rating in a report on Friday, July 30th. Oppenheimer downgraded Equinix from an “outperform” rating to a “market perform” rating and set a $880.00 price target for the company. in a report on Friday, September 10th. Truist upped their price target on Equinix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Finally, Barclays reduced their price objective on Equinix from $880.00 to $879.00 and set an “overweight” rating for the company in a research note on Wednesday, August 25th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $878.47.
In related news, Director Christopher B. Paisley sold 200 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $814.70, for a total transaction of $162,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Camp Peter Van sold 1,456 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $828.52, for a total value of $1,206,325.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,355 shares of company stock worth $18,116,589. Company insiders own 13.20% of the company’s stock.
Equinix, Inc engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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