Arizona State Retirement System Purchases 914 Shares of Equinix, Inc. (NASDAQ:EQIX)

Arizona State Retirement System lifted its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,297 shares of the financial services provider's stock after acquiring an additional 914 shares during the period. Arizona State Retirement System's holdings in Equinix were worth $23,072,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Pinney & Scofield Inc. acquired a new stake in shares of Equinix during the 4th quarter worth approximately $28,000. Pacific Center for Financial Services grew its holdings in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after purchasing an additional 15 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in shares of Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after purchasing an additional 23 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Equinix by 40.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock worth $34,000 after purchasing an additional 12 shares in the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of Equinix during the 4th quarter worth approximately $49,000. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 0.3%

NASDAQ:EQIX traded up $2.27 on Monday, reaching $758.97. The company's stock had a trading volume of 79,987 shares, compared to its average volume of 649,103. Equinix, Inc. has a 1-year low of $701.41 and a 1-year high of $994.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $74.24 billion, a PE ratio of 78.90, a PEG ratio of 1.28 and a beta of 0.93. The business's 50-day moving average price is $856.50 and its two-hundred day moving average price is $868.27.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.86 earnings per share. Equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.47%. Equinix's payout ratio is presently 195.01%.

Analyst Ratings Changes

Several brokerages recently commented on EQIX. BNP Paribas raised Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Scotiabank decreased their price target on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 26th. JPMorgan Chase & Co. decreased their price target on Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company decreased their price target on Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Finally, Mizuho reduced their price objective on Equinix from $1,069.00 to $900.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix has an average rating of "Buy" and a consensus target price of $957.05.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director owned 17,569 shares in the company, valued at $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,176 shares of company stock worth $2,808,008. Corporate insiders own 0.27% of the company's stock.

Equinix Company 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.