Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,804 shares of the financial services provider's stock, valued at approximately $2,286,000.

Several other large investors have also added to or reduced their stakes in EQIX. Pinney & Scofield Inc. acquired a new position in Equinix during the fourth quarter valued at approximately $28,000. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $31,000. Whipplewood Advisors LLC boosted its holdings in shares of Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after buying an additional 23 shares during the last quarter. Pacific Center for Financial Services boosted its holdings in shares of Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after buying an additional 15 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

Shares of Equinix stock opened at $882.88 on Monday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a 50-day simple moving average of $862.84 and a two-hundred day simple moving average of $884.88. The stock has a market capitalization of $86.36 billion, a price-to-earnings ratio of 91.78, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $8.86 earnings per share. Analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insider Activity at Equinix

In other Equinix news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer now directly owns 9,615 shares of the company's stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial cut their price target on shares of Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Stifel Nicolaus raised their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Citigroup raised their target price on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Mizuho cut their target price on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. Finally, Barclays raised their price objective on Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $1,004.80.

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.

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